Precigen completes sale of Trans Ova Genetics for $170M upfront plus up to $10M earn-out

PRECIGEN, INC.

Sale closed on August 18, 2022; buyer is Spring Bidco LLC (URUS). Net proceeds ~$169.5M after adjustments.
Company plans to use $200M (including proceeds) to pay senior convertible notes and for other permitted purposes.
Up to $10M earn-out based on Trans Ova performance in 2022-2023, payable in cash.
Divestiture allows Precigen to focus on its core gene and cell therapy pipeline.

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