Ocugen, Inc. announced today the closing of its previously announced registered direct offering, which generated approximately $20 million in gross proceeds. The offering involved the purchase and sale of 20,000,000 shares of common stock and warrants to purchase up to an aggregate of 20,000,000 shares of common stock. The purchase price was $1.00 per share and accompanying warrant.
The warrants, exercisable at $1.50 per share, are immediately exercisable and will expire two years from issuance. They are callable by the company if the common stock's VWAP exceeds $2.50 for at least five of a trailing 30 trading day period. Noble Capital Markets, Inc. served as the sole placement agent for the offering.
Ocugen anticipates that these proceeds will extend the company’s cash runway into the second quarter of 2026. Furthermore, if the warrants are exercised in full, the company could receive up to an additional $30 million in gross proceeds, potentially extending its cash runway into the first quarter of 2027. This financing is vital for supporting Ocugen's ongoing clinical development programs.
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