Ocugen, Inc. Announces Closing of $35 Million Public Offering of Common Stock
Ocugen, Inc. (Nasdaq: OCGN), a biotechnology company focusing on gene and cell therapies and vaccines, has closed its public offering of 30,434,783 common stock shares at $1.15 per share. The offering, led by a premier mutual fund and prominent life sciences investors, raised approximately $35 million in gross proceeds. Titan Partners Group, a division of American Capital Partners, acted as the sole book-running manager.
The company plans to use the net proceeds for general corporate purposes, capital expenditures, working capital, and general and administrative expenses. The offering was made pursuant to a previously filed and effective shelf registration statement on Form S-3.
Ocugen, Inc. (Nasdaq: OCGN), un'azienda biotecnologica specializzata in terapie geniche e cellulari e vaccini, ha chiuso la sua offerta pubblica di 30.434.783 azioni ordinarie a $1.15 per azione. L'offerta, guidata da un principale fondo comune e da investitori di spicco nel settore delle scienze della vita, ha raccolto circa $35 milioni in proventi lordi. Titan Partners Group, una divisione di American Capital Partners, ha agito come unico gestore del libro.
L'azienda prevede di utilizzare i proventi netti per scopi aziendali generali, spese in conto capitale, capitale circolante e spese generali e amministrative. L'offerta è stata effettuata conformemente a una dichiarazione di registrazione precedente, già efficace, presentata sul Modulo S-3.
Ocugen, Inc. (Nasdaq: OCGN), una empresa de biotecnología centrada en terapias génicas y celulares y vacunas, ha cerrado su oferta pública de 30,434,783 acciones ordinarias a $1.15 por acción. La oferta, liderada por un fondo mutuo destacado y prominentes inversores en ciencias de la vida, recaudó aproximadamente $35 millones en ingresos brutos. Titan Partners Group, una división de American Capital Partners, actuó como el único gerente de libros.
La empresa planea usar los ingresos netos para fines corporativos generales, gastos de capital, capital de trabajo y gastos generales y administrativos. La oferta se realizó de acuerdo con una declaración de registro previa y efectiva en el Formulario S-3.
Ocugen, Inc. (Nasdaq: OCGN), 유전자 및 세포 치료제와 백신에 초점을 맞춘 생명공학 회사가 30,434,783주 보통주 공모를 $1.15로 종료했습니다. 이 공모는 주요 뮤추얼 펀드와 저명한 생명 과학 투자자들이 주도하여 약 $3,500만의 총 수익을 올렸습니다. Titan Partners Group은 American Capital Partners의 한 부서로서 단독 책 관리자로 활동했습니다.
회사는 일반 기업 용도, 자본 지출, 운영 자본 및 일반 및 관리 비용에 대한 순수익을 사용할 계획입니다. 이 공모는 이전에 제출된 효력 있는 선등록 명세서(S-3 양식)에 따라 이루어졌습니다.
Ocugen, Inc. (Nasdaq: OCGN), une entreprise de biotechnologie axée sur les thérapies géniques, cellulaires et les vaccins, a clôturé son offre publique de 30,434,783 actions ordinaires à 1,15 $ par action. L'offre, dirigée par un fonds commun de placement de premier plan et des investisseurs de renom dans les sciences de la vie, a levé environ 35 millions de dollars de produits bruts. Titan Partners Group, une division d'American Capital Partners, a agi en tant que gestionnaire exclusif des livres.
L'entreprise prévoit d'utiliser le produit net pour des besoins d'entreprise généraux, des dépenses d'investissement, du fonds de roulement, ainsi que des frais généraux et administratifs. L'offre a été réalisée conformément à une déclaration d'enregistrement précédente et effective sur le formulaire S-3.
Ocugen, Inc. (Nasdaq: OCGN), ein biotechnologisches Unternehmen, das sich auf Gentherapien, Zelltherapien und Impfstoffe konzentriert, hat seine öffentliche Ausgabe von 30.434.783 Stammaktien zu $1.15 pro Aktie abgeschlossen. Die Ausgabe, geleitet von einem führenden Investmentfonds und prominenten Investoren im Bereich der Lebenswissenschaften, hat etwa $35 Millionen an Bruttoeinnahmen erzielt. Titan Partners Group, eine Division von American Capital Partners, fungierte als alleiniger Book-Running-Manager.
Das Unternehmen plant, die Nettoerlöse für allgemeine Unternehmenszwecke, Investitionen, Betriebskapital sowie allgemeine und administrative Ausgaben zu verwenden. Die Ausgabe erfolgte gemäß einer zuvor eingereichten und effektiven Shelf-Registrierungserklärung auf Formular S-3.
- Successfully raised $35 million in gross proceeds
- Participation from premier mutual fund and leading life sciences investors
- Funds to be used for general corporate purposes and working capital
- Potential dilution of existing shareholders' ownership
- Offering price of $1.15 per share may indicate market valuation concerns
Insights
Ocugen's
The participation of a premier mutual fund and leading life sciences investors lends credibility to Ocugen's prospects. The broad intended use of proceeds for "general corporate purposes" provides flexibility but lacks specificity on strategic initiatives. Investors should monitor how effectively management deploys this capital to advance its pipeline and create shareholder value.
This capital raise is a double-edged sword for Ocugen. While it provides essential funding for their gene and cell therapy programs, it also highlights the cash-intensive nature of biotech R&D. The broad investor base, including a premier mutual fund, suggests confidence in Ocugen's potential, particularly in their novel therapies and vaccine candidates.
However, the lack of specificity in fund allocation raises questions about the company's immediate priorities. Investors should look for upcoming milestones in Ocugen's pipeline, especially in their ocular gene therapy programs and COVID-19 vaccine developments. The success of these initiatives will be important in justifying this dilution and driving future value.
Ocugen's offering at
The timing of this raise, following the effectiveness of their S-3 filing, suggests proactive financial management. Investors should watch for potential catalysts, such as clinical trial results or regulatory decisions, that could justify this capital raise and potentially drive the stock price. The market's reaction in the coming weeks will be telling of investor sentiment towards Ocugen's long-term prospects.
MALVERN, Pa., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Ocugen, Inc. (Nasdaq: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines, today announced the closing of its previously announced underwritten public offering of 30,434,783 shares of its common stock. Each share of common stock was sold at a price to the public of
Titan Partners Group, a division of American Capital Partners, acted as sole book-running manager for the offering.
The offering is being made by Ocugen pursuant to a shelf registration statement on Form S-3 (File No. 333-278774) previously filed with the Securities and Exchange Commission (the “SEC”) on April 18, 2024, which became effective on May 1, 2024. A final prospectus supplement and the accompanying base prospectus relating to and describing the terms of the offering were filed with the SEC. Electronic copies of the final prospectus supplement and the accompanying base prospectus relating to the offering, may be obtained by visiting the SEC’s website at www.sec.gov or by contacting Titan Partners Group, LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 29th Floor, New York, New York 10007, by phone at (929) 833-1246 or by email at prospectus@titanpartnersgrp.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 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 applicable 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: | Titan Partners Contact: |
| Tiffany Hamilton | (929) 833-1246 |
| Head of Communications | prospectus@titanpartnersgrp.com |
| Tiffany.Hamilton@Ocugen.com |
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