Ocugen, Inc. (OCGN): debt financing — Ocugen completes $115M convertible note offering at 6.75%, repays Avenue loan

Ocugen, Inc.

$115M aggregate principal of 6.75% Convertible Senior Notes due 2034 issued; net proceeds ~$99.5M.
~$32.7M used to fully repay and terminate the Avenue Loan Agreement; remaining for general corporate purposes.
Pro-forma cash, cash equivalents, and restricted cash estimated at $99.0M as of March 31, 2026.
Initial conversion price ~$2.68/share (45% premium to $1.85 close on May 4, 2026); conversion rate 372.7866 shares per $1,000.
Exchange cap of 67,629,947 shares until stockholder approval; max initial shares issuable 62,162,162.

item 1.01 item 1.02 item 2.02 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Ocugen, Inc. incurred convertible notes of $115.0 million with U.S. Bank Trust Company, National Association at 6.75% maturing May 15, 2034.

Instrument: convertible notes
Principal: $115.0 million
Counterparty: U.S. Bank Trust Company, National Association
Rate: 6.75%
Maturity: May 15, 2034
Event: incurrence

Exact text from the filing

On May 7, 2026, Ocugen, Inc. (the “Company”) completed its previously announced private offering (the “offering”) of $115.0 million aggregate principal amount of 6.75% Convertible Senior Notes due 2034 (the “notes”).

View on SEC.gov

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Ocugen, Inc. issued convertible note to initial purchaser for $115.0 million aggregate principal amount.

Security: convertible note
Purchaser: initial purchaser
Consideration: $115.0 million aggregate principal amount

Exact text from the filing

On May 7, 2026, Ocugen, Inc. (the “Company”) completed its previously announced private offering (the “offering”) of $115.0 million aggregate principal amount of 6.75% Convertible Senior Notes due 2034 (the “notes”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Ocugen, Inc. entered into Indenture with U.S. Bank Trust Company, National Association valued at $115.0 million aggregate principal amount of 6.75% Convertible Senior Notes due 2034 (effective 2026-05-07).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $115.0 million aggregate principal amount of 6.75% Convertible Senior Notes due 2034
Effective: 2026-05-07

Exact text from the filing

On May 7, 2026, Ocugen, Inc. (the “Company”) completed its previously announced private offering (the “offering”) of $115.0 million aggregate principal amount of 6.75% Convertible Senior Notes due 2034 (the “notes”). The notes were issued pursuant to an indenture, dated May 7, 2026 (the “Indenture”), between the Company and U.S. Bank Trust Company, National Association, as trustee.

View on SEC.gov

41 debt financings filed in the last 30 days. Browse all debt financings →

Ocugen, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-26-057138

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