Ocugen, Inc. Announces Closing for $130.0 Million of 6.75% Convertible Senior Notes
Ocugen closed a private offering of $130 million in 6.75% Convertible Senior Notes due 2034, priced at 90% of par. The company received approximately $112.6 million in net proceeds after deducting discounts and expenses. Ocugen used $32.7 million of the proceeds to fully repay its loan with Avenue Capital Group, removing a restrictive debt facility.
Key figures
- Deal Value Usd
- 130000000
- Coupon rate
- 6.75%
- Debt repaid
- 32700000
- Net proceeds
- 112600000
- Maturity year
- 2034
- Cash runway year
- 2028
- Offering price pct
- 90%
AI analysis
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