Precigen $79 million preferred stock and warrants offering

Davis Polk advised Precigen, Inc., as issuer, in connection with the private placement of an aggregate 79,000 shares of its 8.00% Series A convertible perpetual preferred stock, no par value per share, and warrants to purchase 52,666,669 shares of its common stock, no par value per share, for gross proceeds of $79 million before estimated expenses of the offering. The common stock of Precigen, Inc. is listed on the Nasdaq Global Select Market under the symbol “PGEN.”

Precigen 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 its core therapeutic areas of immuno-oncology, autoimmune disorders and infectious diseases. The company’s technologies are designed to enable it 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 therapies toward clinical proof-of-concept and commercialization.

The Davis Polk capital markets team included partners Deanna L. Kirkpatrick and Yasin Keshvargar, counsel Jeffrey S. Ramsay and associates Arisa Akashi Sin and Cheridan Christnacht. The equity derivatives team included partner Randall Derek Walters, counsel M. Faisal Baloch and associate Alexander S. Pettingell. All members of the Davis Polk team are based in the New York office.