MALVERN, Pa., February 10, 2021 (GLOBE NEWSWIRE) – Ocugen, Inc. (Nasdaq: OCGN), a biopharmaceutical company focused on the discovery, development and commercialization of genetic therapies to cure blindness diseases and develop a vaccine to fight COVID -19, today announced that it has closed the previously announced registered direct offering for the sale of a total of 3,000,000 shares of its common shares for gross revenues of approximately $ 23 million, before deducting placement agent and other fees gift expenses payable by Ocugen.
HC Wainwright & Co. acted as exclusive offer placement agent.
Ocugen intends to use the net proceeds of the offering for general corporate purposes, capital expenditures, working capital and general and administrative expenses.
The common shares described above were offered in accordance with 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 These common shares were offered only through a prospectus, including a supplement to the prospectus, which is part of the effective registration statement. A supplement to the final prospectus and the accompanying prospectus related to the offering of common shares have been filed with the SEC. Electronic copies of the supplement to the final prospectus and the prospectus related to the offering of common shares can be obtained from the SEC’s website at http://www.sec.gov or by contacting HC Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by email: [email protected] or by phone: (646) 975-6996.
This press release must not constitute an offer to sell or solicit an offer to buy these securities, nor should there be any sale of those securities in any state or other jurisdiction in which such offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of any state or other jurisdiction.
About Ocugen, Inc.
Ocugen, Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of genetic therapies to cure blindness diseases and develop a vaccine to combat COVID-19. Our innovative modifying gene therapy platform has the potential to treat multiple retinal diseases with one drug – “one for many”, and our new biological product candidate aims to offer better therapy to patients with unmet diseases, such as related macular degeneration at wet age, diabetic macular edema and diabetic retinopathy. For more information, visit www.ocugen.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements in accordance with the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. Such forward-looking statements in this press release include, without limitation, the intended use of net proceeds from the registered direct offering. We may, in some cases, use terms such as “forecasts”, “believes”, “potential”, “proposed”, “continues”, “estimates”, “provides”, “expects”, “plans”, “intends,” “ Can “,” could “,” could “,” will “,” should “or other words that convey uncertainty about future events or results to identify these forward-looking statements. These statements are subject to several important factors, risks and uncertainties that they may make cause actual events or results to differ materially from our current expectations, such as the 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 made in this press release are valid only as of the date of this press release. Except as required by law, we assume no obligation to update the 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 Subramanian
Chief Financial Officer and Corporate Development Director
[email protected]
Media contact:
LaVoieHealthScience
Emmie Twombly
[email protected]
+1 857-389-6042