Ocugen Inc. Announces $23 Million Registered Direct Offering of Common Stock Priced at a Premium to Market
February 07 2021 - 9:44PM
Ocugen, Inc. (Nasdaq: OCGN), a biopharmaceutical company
focused on discovering, developing, and commercializing gene
therapies to cure blindness diseases and developing a vaccine to
fight COVID-19, today announced that it has entered into definitive
agreements with healthcare-focused institutional investors for the
sale of an aggregate of 3,000,000 shares of its common stock at a
purchase price of $7.65 per share in a registered direct offering.
The offering is expected to close on or about February 10, 2021,
subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement
agent for the offering.
The gross proceeds of the offering are expected
to be approximately $23 million, prior to deducting placement
agent’s fees and other offering expenses payable by Ocugen. Ocugen
intends to use the net proceeds from the offering for general
corporate purposes, capital expenditures, working capital and
general and administrative expenses.
The shares of common stock described above are
being offered pursuant to a “shelf” registration statement (File
No. 333-237456) filed with the Securities and Exchange Commission
(“SEC”) on March 27, 2020 and declared effective on May 5, 2020.
Such shares of common stock may be offered only by means of a
prospectus, including a prospectus supplement, forming a part of
the effective registration statement. A final prospectus supplement
and the accompanying prospectus relating to the offering of the
shares of common stock will be filed with the SEC. Electronic
copies of the final prospectus supplement and the accompanying
prospectus relating to the offering of the shares of common stock
may be obtained, when available, on the SEC’s website
at http://www.sec.gov or by contacting H.C. Wainwright
& Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022,
by e-mail: placements@hcwco.com or by telephone: (646)
975-6996.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
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
fight 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. 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, statements regarding the completion of the
registered direct offering, the satisfaction of customary closing
conditions related to the registered direct offering and 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.
Corporate Contact:Ocugen, Inc.Sanjay
SubramanianChief Financial Officer and Head of Corporate
DevelopmentIR@Ocugen.com
Media Contact:LaVoieHealthScienceEmmie
Twomblyetwombly@lavoiehealthscience.com +1 857-389-6042
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