Ocugen plans $115M convertible notes offering; preliminary cash $32.2M

Ocugen, Inc.

Offering of $115M convertible senior notes due 2034, with initial purchaser option for additional $15M.
Net proceeds used to repay ~$32.7M Avenue Capital loan plus accrued interest and fees; remainder for general corporate purposes.
Preliminary cash, cash equivalents, and restricted cash of ~$32.2M as of March 31, 2026, unaudited.
Notes are senior unsecured, convertible into cash, stock, or combination; interest rate and conversion rate TBD upon pricing.
OCU400 Phase 3 enrollment complete, rolling BLA expected Q3 2026; OCU410ST trial fully dosed; OCU200 Phase 1 enrollment complete.

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