[8-K] Ocugen, Inc. Reports Material Event
Ocugen, Inc. entered into agreements to sell 20,000,000 shares of common stock at $1.00 per share and accompanying warrants to purchase up to 20,000,000 shares. The financing is structured as a registered direct offering made under the company's effective Form S-3 shelf registration and is expected to generate approximately $20.0 million in gross proceeds before fees and expenses.
The Warrants carry an exercise price of $1.50, are exercisable immediately, and expire two years after issuance; they are callable by the company if the volume-weighted average price exceeds $2.50 for five of a trailing 30 trading day period. The investor agreed to a 90-day lock-up on resale of the securities. Noble Capital Markets is acting as sole placement agent and will receive a 5.5% cash fee plus reimbursement of up to $65,000 of expenses.
Ocugen, Inc. ha stipulato accordi per vendere 20,000,000 azioni ordinarie a $1.00 per azione e warrant associati per l'acquisto fino a 20,000,000 azioni. Il finanziamento 猫 strutturato come un'offerta diretta registrata effettuata ai sensi della registrazione a 'shelf' efficace della societ脿 sul Modulo S-3 e dovrebbe generare approssimativamente $20.0 million di proventi lordi prima di commissioni e spese.
I warrant hanno un prezzo di esercizio di $1.50, sono esercitabili immediatamente e scadono due anni dopo l'emissione; possono essere richiamati dalla societ脿 se il prezzo medio ponderato per il volume supera $2.50 per cinque giorni in un periodo mobile di 30 giorni di negoziazione. L'investitore ha accettato un lock-up di 90 giorni sulla rivendita dei titoli. Noble Capital Markets agisce come unico agente di collocamento e ricever脿 una commissione in contanti del 5.5% oltre al rimborso fino a $65,000 delle spese.
Ocugen, Inc. celebr贸 acuerdos para vender 20,000,000 acciones ordinarias a $1.00 por acci贸n y warrants acompa帽antes para comprar hasta 20,000,000 acciones. La financiaci贸n est谩 estructurada como una oferta directa registrada realizada bajo el registro 'shelf' efectivo de la compa帽铆a en el Formulario S-3 y se espera que genere aproximadamente $20.0 million en ingresos brutos antes de comisiones y gastos.
Los warrants tienen un precio de ejercicio de $1.50, son ejercitables de inmediato y caducan dos a帽os despu茅s de su emisi贸n; la compa帽铆a puede llamarlos si el precio medio ponderado por volumen supera $2.50 durante cinco d铆as dentro de un periodo m贸vil de 30 d铆as de negociaci贸n. El inversor acept贸 un lock-up de 90 d铆as sobre la reventa de los valores. Noble Capital Markets act煤a como 煤nico agente colocador y recibir谩 una comisi贸n en efectivo del 5.5% m谩s el reembolso de hasta $65,000 en gastos.
Ocugen, Inc.電� 欤茧嫻 $1.00鞐� 氤错喌欤� 20,000,000欤�鞕� 斓滊寑 20,000,000欤�毳� 毵れ垬頃� 靾� 鞛堧姅 鞗岆煱韸鸽ゼ 霃欕皹頃橃棳 韺愲Г頃橂姅 瓿勳暯鞚� 觳搓舶頄堨姷雼堧嫟. 鞚措矆 鞛愱笀 臁半嫭鞚� 須岇偓鞚� 須牓 鞛堧姅 Form S-3 靿橅攧 霌彪鞐� 霐半澕 鞚措（鞏挫 霌彪 歆侅爲 瓿惦(registered direct offering)搿� 甑“頇旊悩鞏� 鞛堨溂氅�, 靾橃垬耄� 氚� 牍勳毄 瓿奠牅 鞝� 鞎� $20.0 million鞚� 齑濎垬鞚奠潉 彀届稖頃� 瓴冹溂搿� 鞓堨儊霅╇媹雼�.
鞗岆煱韸鸽姅 頄夓偓臧�瓴� $1.50鞚措┌ 歃夓嫓 頄夓偓 臧�電ロ晿瓿� 氚滍枆 頉� 2雲� 頉勳棎 毵岆霅╇媹雼�. 瓯半灅霟� 臧�欷� 韽夑窢臧�瓴�(VWAP)鞚� 斓滉芳 30瓯半灅鞚� 欷� 5鞚� 霃欖晥 $2.50毳� 齑堦臣頃橂┐ 須岇偓臧� 鞚措ゼ 旖�(臁瓣赴靸來櫂)頃� 靾� 鞛堨姷雼堧嫟. 韴瀽鞛愲姅 歃濌秾 鞛Г臧侅棎 雽�頃� 90鞚� 霛届梾鞐� 霃欖潣頄堨姷雼堧嫟. Noble Capital Markets電� 雼弲 氚办爼欤缄磤靷靹� 順勱笀 靾橃垬耄� 5.5%鞕� 斓滊寑 $65,000鞚� 牍勳毄 頇橁笁鞚� 氚涥矊 霅╇媹雼�.
Ocugen, Inc. a conclu des accords pour vendre 20,000,000 actions ordinaires 脿 $1.00 par action et des warrants accompagnants permettant d'acheter jusqu'脿 20,000,000 actions. Le financement est structur茅 comme une offre directe enregistr茅e effectu茅e en vertu de l'enregistrement 芦 shelf 禄 effectif de la soci茅t茅 sur le formulaire S-3 et devrait g茅n茅rer environ $20.0 million de produits bruts avant frais et d茅penses.
Les warrants portent un prix d'exercice de $1.50, sont exer莽ables imm茅diatement et expirent deux ans apr猫s l'茅mission ; la soci茅t茅 peut les rappeler si le prix moyen pond茅r茅 par les volumes d茅passe $2.50 pendant cinq jours au sein d'une p茅riode mobile de 30 jours de n茅gociation. L'investisseur a accept茅 une clause de lock-up de 90 jours sur la revente des titres. Noble Capital Markets agit en tant qu'agent de placement unique et recevra une commission en num茅raire de 5.5% plus le remboursement jusqu'脿 $65,000 des frais.
Ocugen, Inc. hat Vereinbarungen zum Verkauf von 20,000,000 Stammaktien zu je $1.00 und begleitenden Warrants zum Kauf von bis zu 20,000,000 Aktien abgeschlossen. Die Finanzierung ist als registriertes Direktangebot strukturiert, das unter der wirksamen Form S-3 Shelf-Registrierung des Unternehmens angeboten wird, und soll vor Geb眉hren und Kosten rund $20.0 million an Bruttoerl枚sen einbringen.
Die Warrants haben einen Aus眉bungspreis von $1.50, sind sofort aus眉bbar und verfallen zwei Jahre nach Ausgabe; das Unternehmen kann sie einziehen, wenn der volumen颅gewichtete Durchschnittspreis 眉ber einen rollierenden Zeitraum von 30 Handelstagen an f眉nf Tagen $2.50 眉bersteigt. Der Investor stimmte einer 90-t盲gigen Lock-up-Vereinbarung f眉r den Weiterverkauf der Wertpapiere zu. Noble Capital Markets fungiert als alleiniger Platzierungsagent und erh盲lt eine Barauszahlungsgeb眉hr von 5.5% zuz眉glich der Erstattung von bis zu $65,000 an Aufwendungen.
- The Offering is expected to generate approximately $20.0 million in gross proceeds before fees and expenses.
- The transaction is being conducted under the company鈥檚 effective Form S-3 shelf registration, enabling a registered direct offering.
- The investor agreed to a 90-day lock-up restricting resale of securities acquired in the Offering.
- Warrants are exercisable immediately, providing potential for the company to receive additional proceeds if exercised.
- The Offering includes issuance of 20,000,000 shares plus warrants to purchase up to 20,000,000 additional shares, representing significant potential dilution.
- Warrants carry an exercise price of $1.50, and are exercisable immediately, which could dilute existing shareholders if exercised.
- The company will pay Noble Capital Markets a 5.5% cash fee of aggregate proceeds and reimburse up to $65,000 in expenses, reducing net proceeds.
- Warrants expire in two years, creating a defined window for potential dilution and capitalization changes.
Insights
TL;DR: Ocugen completed a $20M registered direct financing with immediate warrants, providing near-term cash but issuing substantial dilution potential.
The agreement raises roughly $20.0 million in gross proceeds through the sale of 20 million shares and 20 million warrants. The warrants are exercisable immediately at $1.50 and expire in two years, giving the investor optionality that could convert to equity quickly. Placement agent compensation of 5.5% and up to $65,000 in reimbursed expenses will reduce net proceeds. From an investor-impact perspective, the transaction delivers liquidity to the company while creating near-term dilution and potential downward pressure on share count if warrants are exercised.
TL;DR: The financing uses a registered direct structure under an effective S-3, enabling faster execution and immediate exercisability of warrants.
The placement under the existing Form S-3 permits a streamlined registered sale and immediate issuance of tradable securities. The investor's 90-day lock-up limits immediate secondary selling, and the company's call feature on the warrants (VWAP > $2.50 for specified days) provides an exit mechanism to limit long-term overhang. Material items include the 2-year warrant term and the $1.50 exercise price; collectively these terms affect potential future dilution and capitalization modeling. Overall, the transaction is a routine capital raise with mixed implications: immediate funding but meaningful potential dilution.
Ocugen, Inc. ha stipulato accordi per vendere 20,000,000 azioni ordinarie a $1.00 per azione e warrant associati per l'acquisto fino a 20,000,000 azioni. Il finanziamento 猫 strutturato come un'offerta diretta registrata effettuata ai sensi della registrazione a 'shelf' efficace della societ脿 sul Modulo S-3 e dovrebbe generare approssimativamente $20.0 million di proventi lordi prima di commissioni e spese.
I warrant hanno un prezzo di esercizio di $1.50, sono esercitabili immediatamente e scadono due anni dopo l'emissione; possono essere richiamati dalla societ脿 se il prezzo medio ponderato per il volume supera $2.50 per cinque giorni in un periodo mobile di 30 giorni di negoziazione. L'investitore ha accettato un lock-up di 90 giorni sulla rivendita dei titoli. Noble Capital Markets agisce come unico agente di collocamento e ricever脿 una commissione in contanti del 5.5% oltre al rimborso fino a $65,000 delle spese.
Ocugen, Inc. celebr贸 acuerdos para vender 20,000,000 acciones ordinarias a $1.00 por acci贸n y warrants acompa帽antes para comprar hasta 20,000,000 acciones. La financiaci贸n est谩 estructurada como una oferta directa registrada realizada bajo el registro 'shelf' efectivo de la compa帽铆a en el Formulario S-3 y se espera que genere aproximadamente $20.0 million en ingresos brutos antes de comisiones y gastos.
Los warrants tienen un precio de ejercicio de $1.50, son ejercitables de inmediato y caducan dos a帽os despu茅s de su emisi贸n; la compa帽铆a puede llamarlos si el precio medio ponderado por volumen supera $2.50 durante cinco d铆as dentro de un periodo m贸vil de 30 d铆as de negociaci贸n. El inversor acept贸 un lock-up de 90 d铆as sobre la reventa de los valores. Noble Capital Markets act煤a como 煤nico agente colocador y recibir谩 una comisi贸n en efectivo del 5.5% m谩s el reembolso de hasta $65,000 en gastos.
Ocugen, Inc.電� 欤茧嫻 $1.00鞐� 氤错喌欤� 20,000,000欤�鞕� 斓滊寑 20,000,000欤�毳� 毵れ垬頃� 靾� 鞛堧姅 鞗岆煱韸鸽ゼ 霃欕皹頃橃棳 韺愲Г頃橂姅 瓿勳暯鞚� 觳搓舶頄堨姷雼堧嫟. 鞚措矆 鞛愱笀 臁半嫭鞚� 須岇偓鞚� 須牓 鞛堧姅 Form S-3 靿橅攧 霌彪鞐� 霐半澕 鞚措（鞏挫 霌彪 歆侅爲 瓿惦(registered direct offering)搿� 甑“頇旊悩鞏� 鞛堨溂氅�, 靾橃垬耄� 氚� 牍勳毄 瓿奠牅 鞝� 鞎� $20.0 million鞚� 齑濎垬鞚奠潉 彀届稖頃� 瓴冹溂搿� 鞓堨儊霅╇媹雼�.
鞗岆煱韸鸽姅 頄夓偓臧�瓴� $1.50鞚措┌ 歃夓嫓 頄夓偓 臧�電ロ晿瓿� 氚滍枆 頉� 2雲� 頉勳棎 毵岆霅╇媹雼�. 瓯半灅霟� 臧�欷� 韽夑窢臧�瓴�(VWAP)鞚� 斓滉芳 30瓯半灅鞚� 欷� 5鞚� 霃欖晥 $2.50毳� 齑堦臣頃橂┐ 須岇偓臧� 鞚措ゼ 旖�(臁瓣赴靸來櫂)頃� 靾� 鞛堨姷雼堧嫟. 韴瀽鞛愲姅 歃濌秾 鞛Г臧侅棎 雽�頃� 90鞚� 霛届梾鞐� 霃欖潣頄堨姷雼堧嫟. Noble Capital Markets電� 雼弲 氚办爼欤缄磤靷靹� 順勱笀 靾橃垬耄� 5.5%鞕� 斓滊寑 $65,000鞚� 牍勳毄 頇橁笁鞚� 氚涥矊 霅╇媹雼�.
Ocugen, Inc. a conclu des accords pour vendre 20,000,000 actions ordinaires 脿 $1.00 par action et des warrants accompagnants permettant d'acheter jusqu'脿 20,000,000 actions. Le financement est structur茅 comme une offre directe enregistr茅e effectu茅e en vertu de l'enregistrement 芦 shelf 禄 effectif de la soci茅t茅 sur le formulaire S-3 et devrait g茅n茅rer environ $20.0 million de produits bruts avant frais et d茅penses.
Les warrants portent un prix d'exercice de $1.50, sont exer莽ables imm茅diatement et expirent deux ans apr猫s l'茅mission ; la soci茅t茅 peut les rappeler si le prix moyen pond茅r茅 par les volumes d茅passe $2.50 pendant cinq jours au sein d'une p茅riode mobile de 30 jours de n茅gociation. L'investisseur a accept茅 une clause de lock-up de 90 jours sur la revente des titres. Noble Capital Markets agit en tant qu'agent de placement unique et recevra une commission en num茅raire de 5.5% plus le remboursement jusqu'脿 $65,000 des frais.
Ocugen, Inc. hat Vereinbarungen zum Verkauf von 20,000,000 Stammaktien zu je $1.00 und begleitenden Warrants zum Kauf von bis zu 20,000,000 Aktien abgeschlossen. Die Finanzierung ist als registriertes Direktangebot strukturiert, das unter der wirksamen Form S-3 Shelf-Registrierung des Unternehmens angeboten wird, und soll vor Geb眉hren und Kosten rund $20.0 million an Bruttoerl枚sen einbringen.
Die Warrants haben einen Aus眉bungspreis von $1.50, sind sofort aus眉bbar und verfallen zwei Jahre nach Ausgabe; das Unternehmen kann sie einziehen, wenn der volumen颅gewichtete Durchschnittspreis 眉ber einen rollierenden Zeitraum von 30 Handelstagen an f眉nf Tagen $2.50 眉bersteigt. Der Investor stimmte einer 90-t盲gigen Lock-up-Vereinbarung f眉r den Weiterverkauf der Wertpapiere zu. Noble Capital Markets fungiert als alleiniger Platzierungsagent und erh盲lt eine Barauszahlungsgeb眉hr von 5.5% zuz眉glich der Erstattung von bis zu $65,000 an Aufwendungen.
FAQ
What did Ocugen (OCGN) announce in this 8-K?
What are the key terms of the warrants in the Ocugen Offering?
Who is the placement agent and what fees are payable?
Are there resale restrictions on the securities sold in the Offering?
Under what registration is the Offering being made?
