Ocugen's OrthoCellix to merge with Carisma in reverse merger; combined entity to focus on NeoCart

Ocugen, Inc.

OrthoCellix valued at $135M; Carisma at $15M; post-merger Ocugen/investors own ~90%, Carisma holders ~10%.
Concurrent $25M financing from Ocugen ($5M guaranteed) and other investors to fund NeoCart Phase 3 trial.
Combined company to trade as 'OrthoCellix Inc.' on Nasdaq under ticker OCLX; closing expected H2 2025.
NeoCart is Phase 3-ready autologous cartilage implant for knee defects; received FDA RMAT designation.
Carisma legacy asset CVRs issued to pre-merger Carisma stockholders; termination fees of $500K-$750K if deal fails.

item 1.01item 7.01item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.