OpGen to price initial sale of 2.5 million units between $5.50, $6.50

Bookrunner Maxim helps fund sales, marketing, research and development

By Devika Patel

Knoxville, Tenn., April 23 – OpGen, Inc. will sell 2.5 million units of one common share and one warrant in its initial public offering with a greenshoe of 375,000 additional units, according to a Form S-1/A filed Thursday with the Securities and Exchange Commission. The company has registered up to $37.4 million of stock for the offering, which was announced on March 3.

The units will be sold at a price expected to fall between $5.50 and $6.50 per unit. Each warrant will be exercisable at 110% of the per-unit price.

Maxim Group LLC is the bookrunner, and National Securities Corp. is the co-manager.

Existing stockholders jVen Capital, LLC, Versant Ventures, Harris & Harris Group, Inc., CHL Medical Partners and Cross Creek Capital, LP have indicated an interest in buying $4.5 million of units.

Proceeds will be used for sales and marketing, research and development and working capital purposes.

The Gaithersburg, Md., company uses molecular testing and bioinformatics to help combat multi-drug-resistant bacterial infections. It expects its shares to trade on the Nasdaq exchange under the symbol “OPGN.”

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