Ocugen, Inc. Announces Pricing Of $16.5M Public Offering Of 30M Shares Of Common Stock
Portfolio Pulse from Happy Mohamed
Ocugen, Inc. (NASDAQ:OCGN) has priced its underwritten public offering of 30 million shares of common stock for gross proceeds of $16.5 million. The offering is expected to close on May 26, 2023. The net proceeds will be used for general corporate purposes, capital expenditures, working capital, and general and administrative expenses.
May 24, 2023 | 12:37 pm
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Ocugen's $16.5 million public offering of 30 million shares may dilute existing shareholders' value, but will provide funds for general corporate purposes, capital expenditures, and working capital.
The public offering will dilute the value of existing shares, which may negatively impact the stock price in the short term. However, the funds raised will be used for general corporate purposes, capital expenditures, and working capital, which could support the company's growth and potentially offset the dilution effect.
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