Ocugen Announces Underwritten Public Offering Of Common Stock; Size Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Ocugen has announced an underwritten public offering of its common stock, though the size of the offering has not been disclosed. The underwriter has been granted a 30-day option to purchase an additional 15% of shares. The offering is subject to market and other conditions.
July 31, 2024 | 9:08 pm
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Ocugen has announced an underwritten public offering of its common stock, with the size yet to be disclosed. The underwriter has a 30-day option to purchase an additional 15% of shares. This move is subject to market and other conditions.
The announcement of a public offering typically leads to a short-term decline in stock price due to potential dilution of existing shares. The lack of disclosed size adds uncertainty, which may further pressure the stock.
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