OCGN Offering

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

Published August 12, 2025 at 07:45 PM

MALVERN, Pa., Aug. 12, 2025 (GLOBE NEWSWIRE) -- Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a pioneering biotechnology leader in gene therapies for blindness diseases, today announced the closing of its previously announced registered direct offering pursuant to a securities purchase agreement with Janus Henderson Investors, a global asset management firm, for 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 at a purchase price of $1.00 per share (closing price on August 7, 2025) and accompanying warrant. 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

What is the market’s perception of the company’s pipeline and growth prospects after securing this additional capital? How will the offering impact the company’s balance sheet, debt levels, and overall valuation metrics? What is the expected use of proceeds from the $20 million offering and how will it affect the company’s cash runway? How will the issuance of 20 million new shares dilute existing shareholders and impact earnings per share (EPS)? What is the potential impact of the warrants on future dilution if they are exercised at the $1.50 exercise price? How will the increased float from the offering affect the stock’s liquidity and bid‑ask spread? What are the specific terms and covenants of the securities purchase agreement with Jan Henderson Investors? How does this capital raise compare to Ocugen’s prior financing rounds and to similar biotech offerings? What is the likelihood that the company will call the warrants given the VWAP trigger of $2.50 for five out of 30 trailing trading days? Could the warrant call feature lead to a short‑cover rally or squeeze if the VWAP target is met?