Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-Q/A
Source: 0001731122-25-000250
Chunk: 41

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-Q/A
Chunk 41
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20,000,000 of shares of Common Stock over the 36-month term of the 2023 Purchase Agreement. Concurrently with entering into the
2023 Purchase Agreement, the Company also entered into a registration rights agreement with Lincoln Park, pursuant to which it agreed
to provide Lincoln Park with certain registration rights related to the shares issued under the 2023 Purchase Agreement.

22

RENOVARO INC. AND SUBSIDIARIES
NOTES TO UNAUDITED RESTATED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 9 — STOCKHOLDERS’ EQUITY (Continued)

In consideration for entering into
the 2023 Purchase Agreement, the Company issued 696,021 shares of Common Stock to Lincoln Park as a commitment fee on June 20, 2023.

During the three and nine months
ended March 31, 2024, no shares of Common Stock to Lincoln Park were sold under the Purchase Agreement.

Preferred Stock Issuances

On August 1, 2023, the Company
closed a private placement of 280,505 units (the “Units”), each consisting of (i) one share of the Company’s
Series A Convertible Preferred Stock, (the “Preferred Stock”) and (ii) one Common Stock purchase warrant (each, a “Warrant”,
and together with the Units and the shares of Preferred Stock, the “Securities”) to purchase five shares of the Company’s
Common Stock, at a price per Unit equal to $7.13 for aggregate proceeds to the Company of $2,000,000 in cash. In addition, the Company
issued 280,505 Units in connection with the conversion of $2,000,000 of the Promissory Note (see Note 8.)

The Company issued an aggregate
of 561,010 shares of Preferred Stock, which are initially convertible into an aggregate of 5,610,100 shares of Common Stock. In connection
with the Private Placement, the Company sold Warrants to purchase an aggregate of 2,805,050 shares of Common Stock. The Warrants are exercisable
for five years from the date of issuance and have an exercise price of $0.65 per share, payable in cash.

On February 13, 2024 pursuant
to the acquisition of Renovaro Cube, the 561,010
shares of Preferred Stock were converted into an aggregate of 5,610,100
shares of Common Stock. As