GAITHERSBURG, Md., Feb. 09, 2021 (GLOBE NEWSWIRE) -- OpGen, Inc. (Nasdaq: OPGN), a precision medicine company harnessing the power of molecular diagnostics and bioinformatics to help combat infectious disease, today announced it has entered into a definitive agreement with a single U.S.- based, healthcare-focused institutional investor for the purchase of (i) 2,784,184 shares of common stock (ii) 5,549,149 pre-funded warrants, with each Pre-Funded Warrant exercisable for one share of common stock. The Company has also agreed to issue to the investor, in a concurrent private placement, unregistered common share purchase warrants to purchase 4,166,666 shares of the Company’s common stock. Each share of common stock and accompanying Common Warrant are being sold together at a combined offering price of $3.00, and each Pre-Funded Warrant and accompanying Common Warrant are being sold together at a combined offering price of $2.99, pursuant to a registered direct offering, priced at-the-market under Nasdaq rules. The Pre-Funded Warrants are immediately exercisable, at an exercise price of $0.01, and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. The Common Warrants will have an exercise price of $3.55 per share, will be exercisable commencing on the six-month anniversary of the date of issuance, and will expire five and one half (5.5) years from the date of issuance (collectively, the “Offering”).
The closing of the Offering is expected to occur on or about February 11, 2021, subject to the satisfaction of customary closing conditions.
ABOUT OPGEN, INC.
OpGen, Inc. (Gaithersburg, 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.
