Precigen slumps ~15% on pricing $75M common stock offering

Jan. 25, 2023 5:40 AM ETPrecigen, Inc. (PGEN)By: Ravikash, SA News Editor2 Comments

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  • Precigen (NASDAQ:PGEN) priced an offering of ~42.86M common shares at $1.75 apiece to raise about $75M in gross proceeds.
  • The company also granted the underwriters a 30-day option to buy up to an additional ~6.43M shares.
  • Precigen plans to use the net proceeds for developing clinical and preclinical candidates, for working capital and other general corporate purposes.
  • The offering is expected to close on Jan. 27
  • PGEN -16.44% to $1.83 premarket Jan. 25

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