Ocugen announces public stock offering, shares fall more than 15% after hours
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- Ocugen (NASDAQ:OCGN) on Tuesday announced an underwritten public offering of its common stock.
- OCGN stock slipped 15.2% to $0.61 after hours.
- All of the securities in the offering are to be sold by the company.
- "Ocugen (OCGN) intends to use the net proceeds of the proposed offering for general corporate purposes, capital expenditures, working capital, and general and administrative expenses," the company said in a statement.
- OCGN earlier in May reported a Q1 loss per share and a fall in cash and cash equivalents.