Material Event - Form 8-K

Item 8.01. Other Events.

On May 8, 2024, Precision BioSciences, Inc. (the "Company") has entered into a definitive subscription agreement, pursuant to which the Company agrees to issue and sell in a non-brokered private placement (the "Private Placement") to certain members from its management (the "Investors") 25,000 shares of its common stock, par value $0.000005 per share (the "Shares"), at an offering price of $12.00 per share, representing a 13.5% premium to the closing price of its common stock immediately preceding the signing of the subscription agreement. The aggregate gross proceeds from the Private Placement is approximately $300,000. The Private Placement is expected to close on May 8, 2024, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds of the Private Placement to fund ongoing research and development initiatives.

Investors include: (1) Michael Amoroso, President and Chief Executive Officer of the Company and a member of the Company's board of directors, who agreed to purchase 8,334 Shares for an aggregate amount of $100,008, (2) Alex Kelly, Chief Financial Officer of the Company, who agreed to purchase 8,334 Shares for an aggregate amount of $100,008, (3) Dario Scimeca, General Counsel of the Company, who agreed to purchase 833 Shares for an aggregate amount of $9,996; and (4) Jeff Smith, Chief Research Officer of the Company, who agreed to purchase 833 Shares for an aggregate amount of $9,996.

The offer and sale of the Shares have not been, and will not be, registered under the Securities Act of 1933, as amended, or any other securities laws, and the ordinary shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this Current Report on Form 8-K that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, the intended use of proceeds of the Private Placement, statements regarding to the timing and size of the Private Placement, the anticipated total gross proceeds from the Private Placement and other statements relating to the Private Placement. In some cases, you can identify forward-looking statements by terms such as "aim," "anticipate," "approach," "believe," "contemplate," "could," "designed", "estimate," "expect," "goal," "intend," "look," "may," "mission," "plan," "possible," "potential," "predict," "project," "pursue," "should,", "strive", "target," "will," "would," or the negative thereof and similar words and expressions. Forward-looking statements are based on management's current expectations, beliefs and assumptions and on information currently available to us. Such statements are neither promises nor guarantees, and involve a number of known and unknown risks, uncertainties and assumptions, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, without limitation, risks and uncertainties associated with the consummation of the Private Placement, uncertainties related to market conditions, the satisfaction of customary closing conditions related to the Private Placement, the completion of the Private Placement on the anticipated terms or at all, general economic conditions and other risks identified from time to time in the reports the Company files with the SEC, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC's website at www.sec.gov. The forward-looking statements in this Current Report on Form 8-K speak only as of the date of this Current Report on Form 8-K, and the Company undertakes no obligation to update or revise any of the statements. The Company's business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

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