Investment Banking
Sole Bookrunner on Ocugen’s Upsized $130.0 Million Convertible Senior Notes Offering
May 18, 2026
Oppenheimer & Co. Inc. acted as Sole Bookrunner on Ocugen’s Upsized $130.0 Million Convertible Senior Notes Offering
Ocugen, Inc. (Nasdaq: OCGN), a pioneering biotechnology leader in gene therapies for blindness diseases, announced the closing of $130.0 million aggregate principal amount of 6.75% Convertible Senior Notes due 2034 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, including the full exercise by the initial purchaser of its option to purchase an additional $15.0 million aggregate principal amount of the notes. The sale of the notes is expected to result in approximately $112.6 million in net proceeds to Ocugen after deducting the initial purchaser’s discount and estimated offering expenses payable by Ocugen.
Ocugen used approximately $32.7 million of the net proceeds from the offering to fully repay the outstanding principal amount of, plus accrued and unpaid interest on, the loan outstanding under its Loan and Security Agreement with affiliates of Avenue Capital Group, and pay the related prepayment fee and other fees and expenses in connection therewith. Ocugen expects to use the remaining net proceeds from the offering for general corporate purposes.
Healthcare Life Sciences Investment Banking
Name:
Michael A. Margolis, R.Ph.
Title:Senior Managing Director, Head of Healthcare Life Sciences Investment Banking
Name:
Arif Sheikh
Title:Managing Director, Healthcare Life Sciences Investment Banking
Convertible Securities Advisory
Name:
Robert Missant
Title:Managing Director, Convertible Securities Advisory
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