Reported Earlier, Ocugen Prices $35M Public Offering Of 30,434,783 Common Shares At $1.15/Share
Portfolio Pulse from Benzinga Newsdesk
Ocugen has announced a public offering of $35 million, pricing 30,434,783 common shares at $1.15 per share.
August 01, 2024 | 6:55 am
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Ocugen has priced a public offering of $35 million, issuing 30,434,783 common shares at $1.15 per share. This move is likely to dilute existing shares and could put downward pressure on the stock price in the short term.
The issuance of new shares at a price lower than the current market price typically leads to dilution of existing shares, which can result in a decrease in the stock price. The offering size and pricing suggest significant dilution, which is likely to impact the stock negatively in the short term.
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