OpGen Announces Pricing of $10.0 Million Public Offering
July 13 2017 - 6:00AM
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 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 expected proceeds
from the Company’s public offering, the closing of the offering and
the Company's 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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