GERMANTOWN, Md., Jan. 24,
2023 /PRNewswire/ -- Precigen, Inc. (Nasdaq:
PGEN) today announced the pricing of an underwritten public
offering of 42,857,143 shares of its common stock at a public
offering price of $1.75 per share.
Precigen has also granted the underwriters a 30-day option to
purchase up to an additional 6,428,571 shares of its common stock.
Gross proceeds from the offering, before deducting underwriting
discounts and commissions and estimated offering expenses, are
expected to be approximately $75.0
million, excluding any exercise of the underwriters' option.
The offering is expected to close on January
27, 2023, subject to customary closing conditions.
J.P. Morgan Securities LLC is acting as the lead book-running
manager for the offering. Cantor Fitzgerald & Co. is also
acting as book-running manager. JMP Securities, a Citizens Company,
is acting as lead manager and H.C. Wainwright & Co., LLC is
acting as co-manager.
Precigen intends to use the net proceeds from the offering to
fund the development of clinical and preclinical product candidates
and for working capital and other general corporate purposes.
The public offering is being made pursuant to a shelf
registration statement on Form S-3 that was previously filed with
the Securities and Exchange Commission (SEC) and became effective
on July 2, 2020. The final prospectus
supplement and accompanying base prospectus relating to and
describing the terms of the offering will be filed with the SEC and
will be available on the SEC's website at www.sec.gov. Copies
of the final prospectus supplement, when available, and
accompanying preliminary prospectus relating to the offering may be
obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone:
1-866-803-9204, or by emailing at
prospectus-eq_fi@jpmchase.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Precigen
Precigen (Nasdaq: PGEN) is a dedicated
discovery and clinical stage biopharmaceutical company advancing
the next generation of gene and cell therapies using precision
technology to target the most urgent and intractable diseases in
our core therapeutic areas of immuno-oncology, autoimmune
disorders, and infectious diseases. Precigen's technologies are
designed to enable us to find innovative solutions for affordable
biotherapeutics in a controlled manner. Precigen operates as an
innovation engine progressing a preclinical and clinical pipeline
of well-differentiated unique therapies toward clinical
proof-of-concept and commercialization.
Cautionary Statement Regarding Forward-Looking
Statements
Some of the statements made in this press release
are forward-looking statements. These forward-looking statements
are based upon Precigen's current expectations and projections
about future events, including the proposed public offering.
Various factors may cause differences between Precigen's
expectations and actual results. These risks and uncertainties
include, without limitation, risks and uncertainties related to
market conditions and satisfaction of customary closing conditions
related to the proposed public offering. There can be no assurance
that Precigen will be able to complete the proposed public offering
on the anticipated terms, or at all. For further information on
potential risks and uncertainties, and other important factors, any
of which could cause Precigen's actual results to differ from those
contained in the forward-looking statements, see the section
entitled "Risk Factors" in Precigen's most recent Annual Report on
Form 10-K and subsequent reports filed with the Securities and
Exchange Commission.
Investor Contact:
Steven M. Harasym
Vice President, Investor Relations
Tel: +1 (301) 556-9850
investors@precigen.com
Media Contacts:
Donelle M. Gregory
press@precigen.com
Glenn Silver
Lazar-FINN Partners
glenn.silver@finnpartners.com
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SOURCE Precigen, Inc.