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Ocugen Expects to Raise $23 Million via Offering of Common Shares

· 02/07/2021 22:26

03:26 AM EST, 02/08/2021 (MT Newswires) -- Ocugen (OCGN) agreed to sell 3 million of its common shares to healthcare-focused institutional investors at $7.65 per share, for expected gross proceeds of about $23 million, according to a Sunday press release.

The registered direct offering is expected to close on or about Feb. 10.

The biopharmaceutical company plans to use the proceeds for general corporate purposes, capital expenditures, working capital and general and administrative expenses.

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