UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01. | Other Events. |
On July 13, 2022, Precigen, Inc. (the “Company”) reported on the ruling of the arbitration panel in a pending arbitration matter involving the Company and certain investors in each of Intrexon Energy Partners, LLC and Intrexon Energy Partners II, LLC. As previously disclosed, the structure of the arbitration required each party to propose terms for resolution of each matter and the arbitration panel was required to award one of the two proposals for each matter without compromise. The panel adopted the Company's proposed terms with respect to each matter and, therefore, the Company will acquire the membership interests of the investors for an aggregate amount of approximately $7 million. The Company intends to pay this amount in cash.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Precigen, Inc. | ||
| By: |
/s/ Donald P. Lehr | |
| Donald P. Lehr | ||
| Chief Legal Officer | ||
Dated: July 13, 2022