Ocugen enters $30M term loan facility with Avenue Capital; issues 1.06M shares to lenders

Ocugen, Inc.

Term loans of $30M from Avenue Capital at prime + 4.25% (prime floor at closing), maturing Nov 1, 2028.
Proceeds for working capital; prepayment premiums range 3.0% to 0.5% depending on timing.
Lenders can convert up to $6M of principal into common stock at 80% of trading price, capped at 19.9% of outstanding shares.
Company issued 211,268 shares to Avenue 1 and 845,070 shares to Avenue 2 as equity kicker.
Collateral includes all assets with negative pledge on intellectual property; customary covenants and default provisions.

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