Ocugen announces $20M registered direct offering of common stock, warrants

Ocugen (OCGN) announced that it has entered into a securities purchase agreement with Janus Henderson Investors to purchase 20M shares of common stock and warrants to purchase up to an aggregate of 20M shares of common stock at a purchase price of $1.00 per share and accompanying warrant in a registered direct offering. 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. Noble Capital Markets, I acting as the sole placement agent in connection with the offering.