Ocugen, Inc. Announces Pricing of $115 Million of 6.75% Convertible Senior Notes
Ocugen priced a private offering of $115 million aggregate principal amount of 6.75% Convertible Senior Notes due 2034, with a 13-day option for purchasers to buy an additional $15 million. The deal is expected to close on May 7, 2026, generating net proceeds of approximately $99.5 million, or up to $112.6 million if the option is fully exercised. The company plans to allocate about $32.7 million of the proceeds to fully repay its outstanding loan with affiliates of Avenue Capital Group, including accrued interest and related fees. Any remaining net proceeds will be used for general corporate purposes.
Key figures
- Deal Value Usd
- $115 million
- Interest rate
- 6.75%
- Maturity year
- 2034
- Conversion price
- $2.68
- Net proceeds base
- $99.5 million
- Conversion premium
- 45%
- Debt repayment amount
- $32.7 million
- Net proceeds with option
- $112.6 million
AI analysis
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