Precigen Announces Proposed Public Offering of Common Stock

Rhea-AI Summary

Precigen, a biopharmaceutical company (Nasdaq: PGEN), has initiated an underwritten public offering of its common stock, granting underwriters a 30-day option for additional shares. The offering, subject to market conditions, will be conducted under an effective shelf registration statement. The offering details, including size and terms, will be disclosed in a preliminary prospectus supplement to be filed with the SEC. Wells Fargo Securities and Stifel are the joint book-running managers for this offering.

Positive

• Public offering of common stock may raise capital to fund growth and innovation.
• The offering allows Precigen to leverage favorable market conditions.

Negative

• Potential dilution of existing shareholders due to new share issuance.
• Uncertainty regarding completion and terms of the offering may affect stock performance.

GERMANTOWN, Md., Jan. 21, 2021 /PRNewswire/ -- Precigen, Inc. (Nasdaq: PGEN) today announced it has commenced an underwritten public offering of shares of its common stock. In addition, Precigen intends to grant the underwriters a 30-day option to purchase additional shares of its common stock. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the size or terms of the offering.

Wells Fargo Securities and Stifel are acting as joint book-running managers for the offering with JMP Securities acting as lead co-manager and H.C. Wainwright & Co. acting as co-manager.

The public offering will be 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. A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering will be filed with the SEC and will be on the SEC's website at www.sec.gov. Copies of the preliminary prospectus supplement and base prospectus relating to this offering may be obtained from Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, NY 10001, by telephone at 1-800-326-5897, or by email at cmclientsupport@wellsfargo.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, by telephone at (415) 364-2720, or by email at syndprospectus@stifel.com. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

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.

Precigen: Advancing Medicine with Precision™
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. Our 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 and generally relate to the proposed public offering. Various factors may cause differences between Precigen's expectations and actual results, including risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed offering. 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.

For more information, contact:

Investor Contact: Steven Harasym Vice President, Investor Relations Tel: +1 (301) 556-9850 investors@precigen.com

Media Contact: Glenn Silver Lazar-FINN Partners glenn.silver@finnpartners.com

 

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SOURCE Precigen, Inc.

FAQ

What is the purpose of Precigen's public offering of common stock?

The public offering aims to raise capital to support the company's growth and ongoing development of gene and cell therapies.

When did Precigen announce their public offering?

Precigen announced the public offering on January 21, 2021.

Who are the managers for Precigen's stock offering?

Wells Fargo Securities and Stifel are acting as joint book-running managers for the offering.

What is the potential impact of the public offering on Precigen's stock value?

The offering may lead to dilution of existing shares, which could negatively impact stock value.

How long is the underwriters' option to purchase additional shares?

The underwriters have a 30-day option to purchase additional shares.