Deal funds sales, marketing, research, development, corporate purposes
By Devika Patel
Knoxville, Tenn., May 12 – OpGen, Inc. said it has arranged a $10.36 million private placement of units.
The company will sell 9,053,556 units of one common share and 0.75 warrants at $1.14375 per unit.
The whole, five-year warrants will each be exercisable at $1.3125, a 26.2%% premium to $1.04, the May 11 closing share price.
Proceeds will be used sales and marketing, research and development and general corporate purposes.
OpGen is a Gaithersburg, Md.-based company that uses molecular testing and bioinformatics to help combat multi-drug-resistant bacterial infections.
| Issuer: | OpGen, Inc.
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| Issue: | Units of one common share and 0.75 warrants
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| Amount: | $10,355,005
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| Units: | 9,053,556
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| Price: | $1.14375
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| Warrants: | 0.75 warrants per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | $1.3125
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| Pricing date: | May 12
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| Stock symbol: | Nasdaq: OPGN
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| Stock price: | $1.04 at close May 11
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| Market capitalization: | $13.71 million
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