Precigen agrees to sell Trans Ova Genetics to URUS for $170M upfront cash plus $10M earn-out

PRECIGEN, INC.

Total consideration up to $180M: $170M cash at closing plus $10M earn-out based on 2022-2023 performance.
Transaction expected to close in Q3 2022, subject to HSR clearance and other customary conditions.
Proceeds will be used to pay senior convertible notes due July 2023 and fund healthcare pipeline.
Divestiture completes strategy to focus exclusively on healthcare, shedding the animal reproductive technologies unit.
Rabo Securities acted as financial advisor; Davis Polk provided legal support.

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