OpGen Announces Pricing of a $5.4 Million Public Offering of Common Stock
27 March 2019 - 12:00AM
OpGen, Inc. (Nasdaq: OPGN) announced today the pricing of an
underwritten public offering of 9 million shares of its common
stock at a public offering price of $0.60 per share. The company
also granted the underwriters a 45-day option to acquire an
additional 1,350,000 shares to cover overallotments in connection
with the offering. The offering is expected to close on or about
March 28, 2019, subject to customary closing
conditions.
Aegis Capital Corp. acted as the sole
book-running manager for the offering.
The gross proceeds of the offering are expected
to be approximately $5.4 million, prior to deducting underwriting
discounts and other estimated offering expenses.
OpGen anticipates using the net proceeds of this
offering for research and development and regulatory activities in
support of the company’s anticipated FDA 510(k) submissions for the
Acuitas® AMR Gene Panel test and the Acuitas
Lighthouse® Software, commercialization of the
Acuitas RUO products and Acuitas in vitro diagnostic products
following receipt of FDA clearance, and investments in
manufacturing and operations relating to sales of the company’s
products. The company anticipates using the remaining proceeds for
general corporate purposes, capital expenditures and working
capital.
The shares will be issued pursuant to a
registration statement on Form S-1 (333-230036) that was declared
effective by the Securities and Exchange Commission (SEC) on March
25, 2019. A preliminary prospectus related to the offering was
filed with the SEC and a final prospectus will be filed with the
SEC. A copy of the preliminary and final prospectus relating to the
offering, when available, may be obtained by contacting Aegis
Capital Corp., 810 7th Avenue, 18th Floor, New York, NY 10019,
(212) 813-1010 or by accessing the SEC's website,
www.sec.gov.
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 a precision medicine company harnessing the power of
molecular diagnostics and informatics to help combat infectious
disease. We are developing molecular information products and
services for global healthcare settings, helping to guide
clinicians with more rapid and actionable information about life
threatening infections, improve patient outcomes, and decrease the
spread of infections caused by multidrug-resistant microorganisms,
or MDROs.
Our molecular diagnostics and informatics
products, product candidates and services combine our Acuitas
molecular diagnostics and Acuitas Lighthouse informatics
platform for use with our proprietary, curated MDRO knowledgebase.
We are working to deliver our products and services, some in
development, to a global network of customers and
partners. The Acuitas AMR Gene Panel (RUO) is intended
for Research Use Only and is not for use in diagnostic
procedures. The Acuitas Lighthouse Software is not
distributed commercially for antibiotic resistance prediction and
is not for use in diagnostic procedures. For more information,
please visit www.opgen.com.
OpGen, Acuitas, and Acuitas
Lighthouse are registered trademarks of OpGen, Inc.
OpGen Contact: Michael Farmer Vice President,
Marketing (240)
813-1284mfarmer@opgen.comInvestorRelations@opgen.com
Press Contact:Matthew BretziusFischTank
Marketing and PRmatt@fischtankpr.com
Investor Contacts: Joe GreenEdison
Groupjgreen@edisongroup.com
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