Ocugen Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
July 16 2021 - 4:59PM
Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company
focused on discovering, developing, and commercializing gene
therapies to cure blindness diseases and developing a vaccine to
save lives from COVID-19, today announced the Compensation
Committee of the Board of Directors of Ocugen approved the grant of
stock options to purchase an aggregate of 150,750 shares of its
common stock and restricted stock units (RSUs) covering an
aggregate of 25,250 shares of common stock to seven new employees.
The stock options and RSUs were granted as of July 16, 2021, as
material inducements to employment in accordance with Nasdaq
Listing Rule 5635(c)(4).
The stock options have a ten-year term and have an exercise
price of $6.66 per share, which is the closing price of
Ocugen’s common stock on the grant date. The stock options and RSUs
vest in equal annual installments over a three-year period starting
on the one-year anniversary of the grant date, subject to the
applicable new employee’s continued service with Ocugen through the
applicable vesting dates. The stock options and RSUs were granted
outside of Ocugen’s 2019 Equity Incentive Plan.
About Ocugen, Inc.Ocugen, Inc. is a
biopharmaceutical company focused on discovering, developing, and
commercializing gene therapies to cure blindness diseases and
developing a vaccine to save lives from COVID-19. Our breakthrough
modifier gene therapy platform has the potential to treat multiple
retinal diseases with one drug — “one to many,” and our novel
biologic product candidate aims to offer better therapy to patients
with underserved diseases such as wet age-related macular
degeneration, diabetic macular edema, and diabetic retinopathy. We
are co-developing Bharat Biotech’s COVAXIN™ vaccine candidate for
COVID-19 in the U.S. and Canadian markets. For more information,
please visit www.ocugen.com.
Cautionary Note on Forward-Looking
Statements This press release contains
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995, which are subject to
risks and uncertainties. Such forward-looking statements within
this press release include, without limitation, the intended use of
net proceeds from the registered direct offering. We may, in some
cases, use terms such as “predicts,” “believes,” “potential,”
“proposed,” “continue,” “estimates,” “anticipates,” “expects,”
“plans,” “intends,” “may,” “could,” “might,” “will,” “should” or
other words that convey uncertainty of future events or outcomes to
identify these forward-looking statements. Such statements are
subject to numerous important factors, risks and uncertainties that
may cause actual events or results to differ materially from our
current expectations, such as market and other conditions. These
and other risks and uncertainties are more fully described in our
periodic filings with the Securities and Exchange Commission (the
“SEC”), including the risk factors described in the section
entitled “Risk Factors” in the quarterly and annual reports that we
file with the SEC. Any forward-looking statements that we make in
this press release speak only as of the date of this press release.
Except as required by law, we assume no obligation to update
forward-looking statements contained in this press release
whether as a result of new information, future events or
otherwise, after the date of this press release.
Ocugen Contact: Ken InchaustiHead,
Investor Relations & CommunicationsIR@Ocugen.com
Please submit investor-related inquiries
to: IR@ocugen.com
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