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

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

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