OpGen, Inc. (NASDAQ:OPGN) announces the closing of its previously announced public offering of 18,164,195 units at $0.40 per unit, and 6,835,805 pre-funded units at $0.39 per pre-funded unit, raising gross proceeds of approximately $10 million. The Company intends to use the net proceeds of this offering for general corporate purposes, including working capital and product development, particularly development of its rapid antibiotic resistance diagnostic product, and repayment of all outstanding bridge financing notes.

H.C. Wainwright & Co., LLC acted as the exclusive placement agent for the offering.

“We are pleased this public offering involving new and existing shareholders, as well as members of management, has been completed and look forward to advancing our business strategy,” said Evan Jones, chairman and chief executive officer of OpGen.

Each unit includes one share of common stock and one warrant to purchase one share of common stock at an exercise price of $0.425 per share.  Each pre-funded unit included one pre-funded warrant to purchase one share of common stock for an exercise price of $0.01 per share, and one warrant to purchase one share of common stock at an exercise price of $0.425 per share.  The common warrants are exercisable immediately have a five-year term from the date of issuance.

A registration statement on Form S-1 relating to these securities was declared effective by the Securities and Exchange Commission (SEC) on July 12, 2017. The offering was made only by means of a prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained for free by visiting the SEC’s website at www.sec.gov or from the offices of H.C. Wainwright & Co., LLC by email at placements@hcwco.com or by phone at 646-975-6996.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About OpGenOpGen, Inc. is harnessing the power of informatics and genomic analysis to provide complete solutions for patient, hospital and network-wide infection prevention and treatment.

OpGen, Acuitas, Acuitas Lighthouse and QuickFISH are registered trademarks of OpGen, Inc.

Forward-Looking StatementsThis press release includes statements relating to the proceeds from the Company’s public offering and its products and services. These statements and other statements regarding OpGen’s future plans and goals constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control, and which may cause results to differ materially from expectations. Factors that could cause our results to differ materially from those described include, but are not limited to, our ability to successfully, timely and cost-effectively develop, seek and obtain regulatory clearance for and commercialize our product and services offerings, the rate of adoption of our products and services by hospitals and other healthcare providers, the success of our commercialization efforts, the effect on our business of existing and new regulatory requirements, and other economic and competitive factors. For a discussion of the most significant risks and uncertainties associated with OpGen's business, please review our filings with the Securities and Exchange Commission (SEC). You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

OpGen Contact:Michael FarmerDirector, Marketing240-813-1284mfarmer@opgen.comInvestorRelations@opgen.com

Investor Contact:LHA Investor RelationsKim Sutton Golodetz212-838-3777kgolodetz@lhai.comorBruce Voss310-691-7100bvoss@lhai.com

OpGen (NASDAQ:OPGN)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more OpGen Charts.
OpGen (NASDAQ:OPGN)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more OpGen Charts.