OpGen Announces Closing of $10 Million Public Offering
July 19 2017 - 09:25AM
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
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