Ocugen, Inc. Announces Pricing of $16.5 Million Public Offering of Common Stock
May 24 2023 - 8:36AM
Ocugen, Inc. (Nasdaq: OCGN), a biotechnology company focused on
discovering, developing, and commercializing novel gene and cell
therapies, biologics, and vaccines, today announced the pricing of
its underwritten public offering of 30,000,000 shares of its common
stock for gross proceeds of $16.5 million, before deducting the
underwriting discounts and commissions and other estimated offering
expenses payable by Ocugen. The offering is expected to close on or
about May 26, 2023, subject to customary closing conditions. In
addition, Ocugen has granted to the underwriter a 30-day option to
purchase up to 4,500,000 additional shares of its common stock.
Ocugen intends to use the net proceeds from the offering for
general corporate purposes, capital expenditures, working capital,
and general and administrative expenses.
Cantor Fitzgerald & Co. is acting as the sole book-running
manager for the offering.
The underwriter may offer the shares from time to time for sale
in one or more transactions on the Nasdaq Capital Market, in the
over-the-counter market, through negotiated transactions or
otherwise at market prices prevailing at the time of sale, at
prices related to prevailing market prices or at negotiated
prices.
The offering is being made by Ocugen pursuant to a shelf
registration statement on Form S-3 previously filed with the
Securities and Exchange Commission (the “SEC”) on February 28,
2023, which became effective on April 21, 2023. A preliminary
prospectus supplement related to the offering and the accompanying
base prospectus have been filed with the SEC and are available on
the website of the SEC at www.sec.gov. Copies of the final
prospectus supplement and accompanying base prospectus relating to
this offering may be obtained, when available, from Cantor
Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 4th
floor, New York, NY 10022; Email: prospectus@cantor.com.
This press release 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 would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction.
About Ocugen, Inc.
Ocugen, Inc. is a biotechnology company focused on discovering,
developing, and commercializing novel gene and cell therapies and
vaccines that improve health and offer hope for patients across the
globe. We are making an impact on patient’s lives through
courageous innovation—forging new scientific paths that harness our
unique intellectual and human capital. Our breakthrough modifier
gene therapy platform has the potential to treat multiple retinal
diseases with a single product, and we are advancing research in
infectious diseases to support public health and orthopedic
diseases to address unmet medical needs.
Cautionary Statement Regarding 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 Ocugen’s expectations
regarding the completion of the offering and the anticipated use of
proceeds. 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 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:
Tiffany HamiltonHead of Communications IR@Ocugen.com
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