Ocugen closes $30M credit facility with Avenue Capital; proceeds for clinical development

Ocugen, Inc.

Term loans of $30M fully funded on Nov 6, 2024; maturity Nov 1, 2028; interest rate prime + 4.25% (floor at closing prime).
Up to $6M of principal convertible into common stock at 80% of trading price; conversion capped at 19.9% of outstanding shares.
Issued 1,056,338 shares to Lenders under Subscription Agreement; registration statement to be filed within 90 days.
Proceeds to support OCU400 Phase 3 liMeliGhT trial and BLA/MAA submissions; cash runway extends into Q1 2026.
Loan secured by all assets; negative pledge on IP; prepayment premiums from 3% down to 0.5% over time.

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