Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information and Holders of Record
Our common stock trades on the Nasdaq Global Select Market, or Nasdaq, under the symbol "PGEN".
As of February 15, 2025, we had 286 holders of record of our common stock. The actual number of shareholders is greater than this number of record holders and includes shareholders who are beneficial owners but whose shares are held in street name by brokers and other nominees. This number of holders of record also does not include shareholders whose shares may be held in trust by other entities.
Dividends
We have never declared or paid any cash dividends on our capital stock. We currently intend to retain earnings, if any, to finance the growth and development of our business and do not expect to pay any cash dividends on our common stock in the foreseeable future.
Securities Authorized for Issuance under Equity Compensation Plans
Information about our equity compensation plans is incorporated herein by reference to Item 12 of Part III of this Annual Report.
Stock Performance Graph
This performance graph shall not be deemed "soliciting material" or to be "filed" with the SEC for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any filing of Precigen, Inc. under the Securities Act of 1933, as amended, or the Exchange Act.
The following graph shows a comparison from December 31, 2019, through December 31, 2024 of the cumulative total return for our common stock; the Standard & Poor's 500 Stock Index, or the S&P 500 Index; and the Nasdaq Biotechnology Index. The graph assumes that $100 was invested at the market close on December 31, 2019, in the common stock of Precigen, Inc., the S&P 500 Index, and the Nasdaq Biotechnology Index, and data for the S&P 500 Index and the Nasdaq Biotechnology Index assumes reinvestments of dividends. The stock price performance of the following graph is not necessarily indicative of future stock price performance.
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Company / Index Base Period 12/31/2019 3/31/2020 6/30/2020 9/30/2020 12/31/2020
Precigen, Inc. $ 100.00 $ 62.04 $ 91.06 $ 63.87 $ 186.13
S&P 500 Index 100.00 80.00 95.96 104.09 116.26
N asdaq Biotechnology Index
100.00 89.59 113.40 112.40 125.60
Company / Index 3/31/2021 6/30/2021 9/30/2021 12/31/2021 3/31/2022 6/30/2022 9/30/2022 12/31/2022
Precigen, Inc. $ 125.73 $ 118.98 $ 91.06 $ 67.70 $ 38.50 $ 24.45 $ 38.69 $ 27.74
S&P 500 Index 122.97 133.02 133.33 147.52 140.23 117.17 110.98 118.84
Nasdaq Biotechnology Index 124.70 135.90 134.20 124.80 110.00 99.00 99.50 111.20
Company / Index 3/31/2023 6/30/2023 9/30/2023 12/30/2023 3/31/2024 6/30/2024 9/29/2024 12/31/2024
Precigen, Inc. $ 19.34 $ 20.99 $ 25.91 $ 24.45 $ 26.46 $ 28.83 $ 17.28 $ 20.44
S&P 500 Index 127.19 137.75 132.72 147.64 162.63 169.01 178.36 182.05
Nasdaq Biotechnology Index 108.90 107.60 104.40 115.40 116.90 120.00 125.90 113.80
Recent Sales of Unregistered Securities and Use of Proceeds from Registered Securities
(a) Sales of Unregistered Securities
On December 27, 2024, we announced that we had entered into a Securities Purchase Agreement dated December 27, 2024 with investors, including Randal J. Kirk, our executive chairman of our board of directors, affiliates of Patient Capital
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Management and Bill Miller, as well as certain other investors for the sale of our 8.00% Series A Convertible Perpetual Preferred Stock (the "Series A Preferred Stock") and warrants to purchase 52,666,669 shares of our common stock, at an exercise price of $0.75 per share (the "Warrants") in a private placement. We sold an aggregate of 79,000 shares of Series A Preferred Stock, with an initial liquidation preference and stated value of $1,000 per share, together with the Warrants, for net proceeds of approximately $78.5 million, after deducting offering expenses. We expect to use the net proceeds of the offering for working capital and general corporate purposes. The offering closed on December 30, 2024.
(b) Use of Proceeds
None.
(c) Issuer Repurchases of Equity Securities
None.
Item 6. [Reserved]