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.
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.
