Ocugen Inc., a leading biotechnology company in gene therapies for blindness diseases, closed its previously introduced registered direct offering regarding securities purchase agreement with Janus Henderson, a leading asset management firm, for the sale and purchase of 20,000,000 shares of warrants and common stock. The purchase is around 20,000,000 shares of common stock at a purchase price of $1.00 per share. The closing price is on 7th August 2025, accompanied by a warrant. The warrants have a notable price of $1.50 per share, which will be effective quickly on issuance and will expire two years from the date of issuance. The warrants are available by the company on VWAP of the company’s common stock, increasing $2.50 per share for five of a running 30 trading day period.
Noble Capital Markets Inc. is the sole placement agent of this offering. Maxim Group LLC and Titan Partners Group, which are divisions of American Capital Partners, became independent financial advisors of this offering. With this closing of the offering, Janus Henderson confirms the right to the common stock and warrants. The collaboration between the agents and advisors smoothly facilitated the offerings process.
The gross proceeds to the company were estimated at $20 million before any deduction of the placement agent fees and various other offering expenses, which the company claims will expand the company’s cash runway into its second quarter of 2026. The company might receive around $30 million of additional gross proceeds if the warrants are effective. The company confirms that the merged offering exceeds $50 million, with exercised warrants will expand the company’s cash runway into its first quarter of 2027. The offering was pursuable under the effective shelf registration statement on Form S-3 (File no. 333-278774) past filed with the US Securities and Exchange Commission (SEC), which was announced effective on 1st May 2024.
The offering was planned for a prospectus forming, which is a part of an effective registration statement following the offering. A prospectus supplement regarding the shares of common stock and warrants has been officially filed by the company with the SEC. The prospectus supplements copies related to the filed direct offering, accompanied by the prospectus, are also available at the SEC’s website www.sec.gov. Also, it can be obtained from Nobel Capital Markets Inc., 150 East Palmetto Park Rd, Suite 110, Boca Raton, FL 33432.
