Ocugen Announces Distribution of Series C Preferred Stock to Holders of its Common Stock
10 Mayo 2024 - 3:05PM
Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a
biotechnology company focused on discovering, developing, and
commercializing novel gene and cell therapies and vaccines, today
announced that its Board of Directors declared a dividend of one
one-thousandth of a share of newly designated Series C Preferred
Stock, par value $0.01 per share, for each outstanding share of the
Company’s common stock held of record as of 5:00 p.m. Eastern Time
on May 20, 2024. The shares of Series C Preferred Stock will be
distributed to such recipients at 5:00 p.m. Eastern Time on May 22,
2024. The outstanding shares of Series C Preferred Stock will vote
together with the outstanding shares of the Company’s common stock,
as a single class, exclusively with respect to certain stockholder
proposals, and will not be entitled to vote on any other matter,
except to the extent required under the DGCL. Subject to certain
limitations, each outstanding share of Series C Preferred Stock
will have 1,000,000 votes per share (or 1,000 votes per one
one-thousandth of a share of Series C Preferred Stock).
All shares of Series C Preferred Stock that are not present in
person or by proxy at the meeting of shareholders held to vote on
the certain proposals as of immediately prior to the opening of the
polls at such meeting will automatically be redeemed by the Company
and shall have no voting power. Any outstanding shares of Series C
Preferred Stock that have not been so redeemed will be redeemed if
such redemption is ordered by the Company’s Board of Directors or
automatically upon the approval by the Company’s shareholders of
certain proposals at such meeting.
The Series C Preferred Stock will be uncertificated, and no
shares of Series C Preferred Stock will be transferable by any
holder thereof except in connection with a transfer by such holder
of any shares of the Company’s common stock held by such holder. In
that case, a number of one one-thousandths of a share of Series C
Preferred Stock equal to the number of shares of the Company’s
common stock to be transferred by such holder would be transferred
to the transferee of such shares of common stock.
Further details regarding the Series C Preferred Stock will be
contained in a report on Form 8-K to be filed by the Company with
the Securities and Exchange Commission.
About Ocugen, Inc.Ocugen, Inc. is a
biotechnology company focused on discovering, developing, and
commercializing novel gene and cell therapies and vaccines that
improve health and offer hope for patients across the globe. We are
making an impact on patient’s lives through courageous
innovation—forging new scientific paths that harness our unique
intellectual and human capital. Our breakthrough modifier gene
therapy platform has the potential to treat multiple retinal
diseases with a single product, and we are advancing research in
infectious diseases to support public health and orthopedic
diseases to address unmet medical needs. Discover more
at www.ocugen.com and follow us
on X and LinkedIn.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of The Private Securities Litigation Reform Act of
1995, including, but not limited to, statements regarding
qualitative assessments of available data, potential benefits,
expectations for ongoing clinical trials, anticipated regulatory
filings and anticipated development timelines, which are subject to
risks and uncertainties. We may, in some cases, use terms such as
“predicts,” “believes,” “potential,” “proposed,” “continue,”
“estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,”
“could,” “might,” “will,” “should,” or other words that convey
uncertainty of future events or outcomes to identify these
forward-looking statements. Such statements are subject to numerous
important factors, risks, and uncertainties that may cause actual
events or results to differ materially from our current
expectations, including, but not limited to, the risks that
preliminary, interim and top-line clinical trial results may not be
indicative of, and may differ from, final clinical data; that
unfavorable new clinical trial data may emerge in ongoing clinical
trials or through further analyses of existing clinical trial data;
that earlier non-clinical and clinical data and testing of may not
be predictive of the results or success of later clinical trials;
and that that clinical trial data are subject to differing
interpretations and assessments, including by regulatory
authorities. These and other risks and uncertainties are more fully
described in our periodic filings with the Securities and Exchange
Commission (SEC), including the risk factors described in the
section entitled “Risk Factors” in the quarterly and annual reports
that we file with the SEC. Any forward-looking statements that we
make in this press release speak only as of the date of this press
release. Except as required by law, we assume no obligation to
update forward-looking statements contained in this press release
whether as a result of new information, future events, or
otherwise, after the date of this press release.
Contact:Tiffany HamiltonHead of
CommunicationsTiffany.Hamilton@ocugen.com
Ocugen (NASDAQ:OCGN)
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