MALVERN, Pa., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Ocugen, Inc. (Nasdaq: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines, today announced the closing of its previously announced underwritten public offering of 30,434,783 shares of its common stock. Each share of common stock was sold at a price to the public of $1.15 per share. The gross proceeds to the Company from the offering were approximately $35 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for general corporate purposes, capital expenditures, working capital, and general and administrative expenses. The offering was led by a premier mutual fund, along with participation from leading life sciences investors.

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Ocugen, Inc. Announces Closing of $35 Million Public Offering of Common Stock