Stock Alert: Precigen Climbs 20% As Merck Increases Stake In The Co.

By RTTNews Staff Writer   ✉   | Published:

Shares of Precigen, Inc. (PGEN) jumped about 20% on Friday morning after the company said Merck has increased stake in the company.

PGEN is currently trading at $5.29, up $0.88 or 19.95%, on the Nasdaq.

Precigen said existing shareholder Merck KGaA, through its wholly owned subsidiary Ares Trading S.A., has elected to voluntarily convert a convertible note with an outstanding principal balance of $25 million to increase its stake in Precigen from about 11.6% to 14.8%.

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