Harris & Harris Group Portfolio Company OpGen Raises $17.1 Million in Initial Public Offering
Harris & Harris Group, Inc. (Nasdaq:TINY), notes its portfolio
company, OpGen, Inc., announced yesterday the pricing of its
initial public offering of 2,850,000 units, with each unit
consisting of one share of common stock and a warrant to purchase
one share of common stock, at a combined price to the public of
$6.00 per unit. All of the units are being offered by OpGen.
OpGen's common stock and warrants have been approved for listing on
the NASDAQ Capital Market. Each of the common stock and warrants
began trading separately on May 5, 2015, under the symbols "OPGN"
and "OPGNW," respectively. Each warrant will be immediately
exercisable upon issuance for one share of common stock at an
exercise price of $6.60 per share and will expire on May 8, 2020. A
number of Harris & Harris Group shareholders purchased units in
this initial public offering.
OpGen has granted the underwriters the right to purchase up to
an additional 427,500 shares of common stock at a price of $5.99
per share and/or 427,500 additional warrants at a price of $0.01
per warrant less, in each case, the applicable underwriting
discount, within 45 days from the date of the initial public
offering to cover over-allotments, if any.
Maxim Group LLC acted as sole book-running manager and National
Securities Corporation, a wholly owned subsidiary of National
Holdings, Inc., acted as co-manager of the offering.
A registration statement on Form S-1 relating to these
securities was declared effective by the Securities and Exchange
Commission on May 4, 2015. Any offer or sale will be made only by
means of a written prospectus forming part of the effective
registration statement. Copies of the final prospectus relating to
the offering may be obtained from Maxim Group LLC, 405 Lexington
Avenue, 2nd Floor, New York, NY 10174 or by telephone at (800)
724-0761. Copies of the final prospectus relating to the offering
may also be obtained on the Securities and Exchange Commission's
website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or
This press release may contain statements of a forward-looking
nature relating to future events. These forward-looking statements
are subject to the inherent uncertainties in predicting future
results and conditions. These statements reflect Harris &
Harris Group, Inc.'s (the "Company") current beliefs, and a number
of important factors could cause actual results to differ
materially from those expressed in this press release. Please see
the Company's Annual Report on Form 10-K for the fiscal year ended
December 31, 2014, as well as subsequent filings, filed with the
Securities and Exchange Commission (the "SEC") for a more detailed
discussion of the risks and uncertainties associated with the
Company's business, including, but not limited to, the risks and
uncertainties associated with venture capital investing and other
significant factors that could affect the Company's actual results.
Except as otherwise required by Federal securities laws, the
Company undertakes no obligation to update or revise these
forward-looking statements to reflect new events or uncertainties.
The Company is not responsible for the contents of third party
filings with the SEC.
CONTACT: PRESS CONTACT:
Vice President, Gregory FCA
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