Ocugen Announces Distribution of Series C Preferred Stock to Holders of its Common Stock
MALVERN, Pa., May 10, 2024 (GLOBE NEWSWIRE) — 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).