Ocugen will offer 15,973,420 shares of its common stock for gross proceeds of about $53.5 million, according to a press release.
The offering is expected to close on or about Feb. 25, and the company has granted the underwriter a 30-day option to buy more than 2.3 million additional shares of common stock.
The company said it will use the net proceeds from the stock offering for general corporate purposes, capital expenditures and working capital, as well as general and administrative expenses.