secwatch.observer — SEC 8-K summary
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Issuer:     Ocugen, Inc. (OCGN)
CIK:        0001372299
Form:       8-K
Filed at:   2024-11-08T23:59:59+00:00
Accession:  0001104659-24-115900
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1372299/000110465924115900/0001104659-24-115900-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1372299/000110465924115900/tm2427800d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-115900

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