Ocugen issues super-voting Series C Preferred dividend to secure passage of charter amendments

Ocugen, Inc.

Each common share receives 1/1,000th share of Series C Preferred; record date May 20, 2024.
Each Series C share carries 1,000,000 votes, giving common holders 1,000 extra votes per share on three proposals.
Series C votes mirror common stock votes on share increase, voting standard, and adjournment proposals.
Shares of Series C automatically redeemed after stockholder meeting; minimal liquidation preference of $0.01 per share.
Dividend aims to ensure stockholder approval of charter amendments to increase authorized shares and adjust voting requirements.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.7

Ocugen, Inc.: Creation of Series C Preferred Stock with voting rights linked to Common Stock and redemption provisions (effective 2024-05-20).

Change: charter amendment
Effective: 2024-05-20

Exact text from the filing

Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. Series C Preferred Stock The board of directors (the “ Board ”) of Ocugen, Inc. (the “ Company ”) declared a dividend of one one-thousandth (1/1,000th) of a share of Series C Preferred Stock, par value $0.01 per share (“ Series C Preferred Stock ”), for each outstanding share of the Company’s common stock, par value $0.01 per share (“ Common Stock ”) to stockholders of record at 5:00 p.m. Eastern Time on May 20, 2024 (the “ Record Date ”).

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Source: SEC EDGAR

accession 0001104659-24-059907

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