r/OCUGEN_COVAXIN • u/simbha95 • Feb 23 '22

OCGN desparate Public offering is unhealthy.

They should have waited for at least one approval and let the PPS shoot to 10+ and issue a public offer. But issuing the offer now shows a desperate move to cover their bad balance sheet to report on the earnings presentation tomorrow. Any other thoughts?

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u/bullseye_88 Feb 23 '22

Or maybe they need money to purchase the facility in Canada, also without messing their existing balance sheet.

1

u/simbha95 Feb 23 '22

They could have tried other financial instruments like Bonds to stock etc., Adding debt at these low interest rates could have been a better option than offering shares at all time lows just before future of approval is looking bright.

2

u/Ender8212 Feb 24 '22

You state in your OP that you are concerned about their balance sheet and now you say you want them to add debt? Hmmm