OpGen Announces Partial Adjournment of Annual Meeting for Proposal 2 with All Other Proposals Passed
June 09 2021 - 4:30PM
OpGen, Inc. (Nasdaq: OPGN, “OpGen” or the “Company”), a precision
medicine company harnessing the power of molecular diagnostics and
informatics to help combat infectious disease, today announced that
the Company conducted its 2021 annual stockholders meeting (the
“Annual Meeting”) and adjourned the meeting solely with respect to
Proposal 2 set forth in its Definitive Proxy Statement (the “Proxy
Statement”) filed with the Securities and Exchange Commission on
April 26, 2021. Proposal 2 is a proposal to amend the Amended and
Restated Certificate of Incorporation in order to increase the
number of shares of capital stock from 60,000,000 to 110,000,000
shares and the authorized number of shares of common stock from
50,000,000 shares to 100,000,000 shares. All other proposals were
passed at the Annual Meeting with strong support from stockholders.
The Company has therefore adjourned the Annual
Meeting solely with respect to Proposal 2 to provide its
stockholders additional time to vote on Proposal 2. The Annual
Meeting will resume with respect to Proposal 2 at 10:00 a.m.
Eastern time on July 7, 2021 and will continue to be held at the
Company’s offices located at 9717 Key West Ave, Suite 100,
Rockville, MD 20850.* The record date for determining stockholders
eligible to vote at the Annual Meeting will remain the close of
business on April 15, 2021. Of those OpGen stockholders,
representing approximately 43% of all shares outstanding as of the
record date, who have already voted on Proposal 2, more than two
thirds have voted in favor of the proposal.
Oliver Schacht, CEO of OpGen commented: “We are
very encouraged by the number of stockholders that voted this year,
with an overwhelming support of stockholders voting in favor of all
proposals. In terms of Proposal 2, we need at least 66.67% of all
of OpGen’s shares outstanding as of the record date to vote in
favor of this proposal in order for it to pass. I cannot understate
the importance of Proposal 2 for the ongoing success of the
Company, which is why our Board unanimously recommends this
proposal be approved. While OpGen had a strong cash position of $
39.4 million at the end of Q1-2021, these additional authorized
shares will provide the Company the necessary flexibility to
continue to expand, strategically manage and potentially help repay
our long-term debt, and raise additional capital when
needed. Stockholders should also note that we will be
holding a webinar on June 29, 2021 at 11:00 am EDT to provide a
further business update.”
Stockholders as of close of business on
April 15, 2021, the record date for the Annual Meeting, who have
not yet voted are encouraged to vote over the Internet at
http://www.pstvote.com/opgen2021.
Stockholders needing assistance voting or have questions may
contact the Company’s proxy solicitation firm, Alliance Advisors,
LLC, at 800-574-6217 or
melissacarlson@allianceadvisors.com.
* As part of our precautions regarding the
coronavirus (or COVID-19) pandemic, we are planning for the
possibility that we may need to change the location of the Annual
Meeting, or the Annual Meeting may be held solely by means of
remote communication. If we take this step, we will announce the
decision to do so in advance, and details on how to participate
will be available on our website at https://ir.opgen.com/.
About OpGen, Inc.
OpGen, Inc. (Rockville, MD, USA) is a precision
medicine company harnessing the power of molecular diagnostics and
bioinformatics to help combat infectious disease. Along with
subsidiaries, Curetis GmbH and Ares Genetics GmbH, we are
developing and commercializing molecular microbiology solutions
helping to guide clinicians with more rapid and actionable
information about life threatening infections to improve patient
outcomes, and decrease the spread of infections caused by
multidrug-resistant microorganisms, or MDROs. OpGen’s product
portfolio includes Unyvero®, Acuitas® AMR Gene Panel and Acuitas®
Lighthouse, and the ARES Technology Platform including ARESdb®,
using NGS technology and AI-powered bioinformatics solutions for
antibiotic response prediction.
For more information, please visit
www.opgen.com.
Forward-Looking Statements
This press release includes statements regarding
the adjournment of OpGen’s Annual Meeting. These
statements and other statements regarding OpGen’s Unyvero products,
their commercialization and launch, 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 fact that we may not effectively use proceeds from recent
financings, including our November 2020 private placement, February
2021 Registered Direct and March 2021 warrant exercise and
exchange, the realization of expected benefits of our business
combination transaction with Curetis GmbH, the success of our
commercialization efforts, the impact of COVID-19 on the Company’s
operations, financial results, and commercialization efforts as
well as on capital markets and general economic conditions, 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. 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:Oliver SchachtPresident and
CEOInvestorRelations@opgen.com
OpGen Press Contact:Matthew
Bretzius FischTank Marketing and PR
matt@fischtankpr.com
OpGen Investor Contact:Megan Paul Edison
Group mpaul@edisongroup.com
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