Ocugen (OCGN) said late Thursday it closed a private offering of $130 million of 6.75% convertible senior notes due 2034.

The offering comprised $15 million of notes issued upon the full exercise of an overallotment option by the initial buyer, according to a statement.

The company used $32.7 million of the $112.6 million net proceeds to repay an outstanding balance under a loan and security agreement, while the remaining funds will be used for general corporate purposes, the company said.