05:27 AM EDT, 08/01/2024 (MT Newswires) -- Ocugen ( OCGN ) said late Wednesday it priced its underwritten public offering of about 30.4 million common shares at $1.15 per share for gross proceeds of $35 million.

The underwriter has been granted a 30-day option to buy up to about 4.6 million additional shares.

The offering is expected to close around Friday.

Net proceeds from the offering are expected to be used for general corporate purposes, capital expenditures, working capital, as well as general and administrative expenses.

Ocugen ( OCGN ) fell 11% after-market hours on Wednesday.

Price: 1.2499, Change: -0.16, Percent Change: -11.04