RTTNews | Oct 9, 2020 10:23AM EDT

10:23 Friday, October 9, 2020 (RTTNews.com) - 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%.

Read the original article on RTTNews ( https://www.rttnews.com/3135214/stock-alert-precigen-climbs-20-as-merck-increases-stake-in-the-co.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com All Rights Reserved