OpGen Announces Pricing Of $10.0 Million Public Offering


GAITHERSBURG, Md., July 13, 2017 (GLOBE NEWSWIRE) — OpGen, Inc. (Nasdaq:OPGN) announces the pricing of a public offering of an aggregate of 25,000,000 units. Each unit is comprised of one share of common stock (or common stock equivalent) and one common warrant to purchase one share of common stock. The units are being offered at a price of $0.40 per unit.

Each common warrant has an exercise price of $0.425 per share, is exercisable immediately and will expire five years from the date of issuance. The shares of common stock (or common stock equivalent) and the accompanying common warrants included in the units can only be purchased together in this offering but will be issued separately.  This offering is expected to close on or about July 18, 2017, subject to customary closing conditions. 

H.C. Wainwright & Co., is acting as the exclusive placement agent for the offering.

The gross proceeds of the offering are expected to be approximately $10.0 million, prior to deducting placement agent fees and other estimated offering expenses. 

The Company intends to use the net proceeds of this offering for general corporate purposes, including working capital and product development, particularly development of our one- to three-hour antibiotic resistance diagnostic product and repayment of all outstanding bridge financing notes.

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 is being made only by means of a prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering, when available, 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 [email protected] 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.

Reviews

  • Total Score 0%
User rating: 0.00% ( 0
votes )



Leave a Reply

Your email address will not be published. Required fields are marked *