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Intrexon enters into $100M preferred stock equity facility

Intrexon Corp. entered into a preferred stock equity facility with Third Security LLC allowing the company to sell up to $100 million of its newly issued series A redeemable preferred stock.

Third Security is a venture capital firm founded by Intrexon's chairman and CEO Randal Kirk.

The preferred stock issued under the deal will be non-voting, accrue dividends of 8% per annum, and will be convertible to common stock subject to shareholder approval.

Intrexon can use the equity facility through April 30, 2019.