Bookrunner Maxim helps fund sales, marketing, research and development
By Devika Patel
Knoxville, Tenn., May 5 – OpGen, Inc. said it priced its $17.1 million initial public offering of units with a $2.57 million greenshoe. The deal was announced on March 3.
The company will sell 2.85 million units of one common share and one warrant at $6.00 per unit.
The warrants are each exercisable at $6.60 until May 8, 2020.
Maxim Group LLC is the bookrunner.
Existing stockholders jVen Capital, LLC, Versant Ventures, Harris & Harris Group, Inc., CHL Medical Partners and Cross Creek Capital, LP indicated an interest in participating when the deal was announced.
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.”
| Issuer: | OpGen, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $17.1 million
|
| Greenshoe: | $2,565,000, 427,500 units
|
| Units: | 2.85 million
|
| Price: | $6.00
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | May 8, 2020
|
| Warrant strike price: | $6.60
|
| Bookrunner: | Maxim Group LLC
|
| Co-manager: | National Holdings, Inc.
|
| Investors: | jVen Capital, LLC, Versant Ventures, Harris & Harris Group, Inc., CHL Medical Partners and Cross Creek Capital, LP
|
| Announcement date: | March 3
|
| Pricing date: | May 5
|
| Stock symbol: | Nasdaq: OPGN
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
