OCGN Capital raising

Ocugen, Inc. Announces $20 Million Registered Direct Offering of Common Stock and Warrants

Published August 08, 2025 at 09:03 PM

MALVERN, Pa., Aug. 08, 2025 (GLOBE NEWSWIRE) -- Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a pioneering biotechnology leader in gene therapies for blindness diseases, today announced that it has entered into a securities purchase agreement with Janus Henderson Investors, a global asset management firm, to purchase 20,000,000 shares of common stock and warrants to purchase up to an aggregate of 20,000,000 shares of common stock at a purchase price of $1.00 per share (closing price on August 7, 2025) and accompanying warrant in a registered direct offering. The warrants have an exercise price of $1.50 per share, are exercisable immediately upon issuance, and will expire two years following the date of issuance. The warrants are callable by the Company when the VWAP of the Company’s common stock exceeds $2.50 per share for at least five of a trailing 30 trading day period.

Related Questions

Are there any covenants or lock‑up periods associated with the securities purchase agreement that could affect future share sales or insider activity? How might this capital raise affect the company’s pipeline milestones for its gene‑therapy programs and related cash‑flow forecasts? What is the expected dilution from the 20 million new common shares and the warrants, and how will that impact earnings per share (EPS) forecasts? How will the $20 million direct offering affect the short‑term supply–demand balance and price of OCGN shares? What is the likely impact on the stock’s liquidity and bid‑ask spread once the offering is completed? What are the potential upside and downside scenarios if the warrants are exercised at the $1.50 price, especially when the VWAP exceeds $2.50? How does this offering compare to recent capital‑raising activities by peer biotech companies in terms of size, pricing, and warrant structures? What is the market’s perception of Janus Henderson Investors’ involvement—does it signal confidence or a strategic partnership? How will the callable feature of the warrants (when VWAP > $2.50 for five out of 30 trailing days) influence the company’s future capital‑raising flexibility? How does the $1.00 per share pricing compare to recent trading levels and the company’s historical capital‑raising pricing?