Intrexon Corporation (NasdaqGS:XON) announced that it has entered into a subscription agreement with TS Biotechnology Holdings, LLC for gross proceeds of $35 million on January 1, 2020. The company will issue common stock in the transaction. The investor will purchase at a per price equal to the volume weighted average of the company's common stock for the five consecutive trading days immediately following the second business day after January 14, 2020, rounded to the nearest whole cent, a number of shares rounded to the nearest whole share, equal to an amount equal to the lesser of $35 million or if the subscription agreement is terminated by the company. The transaction is expected to close on January 31, 2020.