GAITHERSBURG, Md., Feb. 02, 2018 (GLOBE NEWSWIRE) -- OpGen, Inc. (NASDAQ:OPGN) announces the pricing of a public offering of an aggregate of 3,692,307 units. Each unit is comprised of one share of common stock (or common stock equivalent) and one common warrant to purchase one-half of a share of common stock. The units are being offered at a public offering price of $3.25 per unit.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
Each common warrant has an exercise price of $3.25 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 February 6, 2018, subject to customary closing conditions.
The gross proceeds of the offering are expected to be approximately $12 million, prior to deducting placement agent fees and other estimated offering expenses.
The Company intends to use the net proceeds of this offering for research and development, including funding the continued development and manufacturing of its Acuitas® AMR Gene Panels, including its Acuitas AMR Gene Panel u5.47 that was released for Research Use Only in February 2018, support acquisitions of products and technologies, capital expenditures, working capital and other general corporate purposes.
A registration statement on Form S-1 relating to these securities was declared effective by the Securities and Exchange Commission (SEC) on February 1, 2018, and an additional registration statement on Form S-1 filed pursuant to Rule 462(b) (File No. 333-222830), which became automatically effective on February 1, 2018.
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, 430 Park Avenue, New York, NY 10022, by email at email@example.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.
OpGen, 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, and Acuitas are registered trademarks of OpGen, Inc.
This press release includes statements relating to the expected proceeds from the Company’s public offering, the closing of the offering and the use of the net proceeds to further the development and commercialization of 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.