GAITHERSBURG, Md., July 19, 2017 (GLOBE NEWSWIRE) -- OpGen, Inc. (NASDAQ:OPGN) announces the closing of its previously announced public offering of 18,164,195 units at $0.40 per unit, and 6,835,805 pre-funded units at $0.39 per pre-funded unit, raising gross proceeds of approximately $10 million. The Company intends to use the net proceeds of this offering for general corporate purposes, including working capital and product development, particularly development of its rapid antibiotic resistance diagnostic product, and repayment of all outstanding bridge financing notes.
H.C. Wainwright & Co., LLC acted as the exclusive placement agent for the offering.
“We are pleased this public offering involving new and existing shareholders, as well as members of management, has been completed and look forward to advancing our business strategy,” said Evan Jones, chairman and chief executive officer of OpGen.
Each unit includes one share of common stock and one warrant to purchase one share of common stock at an exercise price of $0.425 per share. Each pre-funded unit included one pre-funded warrant to purchase one share of common stock for an exercise price of $0.01 per share, and one warrant to purchase one share of common stock at an exercise price of $0.425 per share. The common warrants are exercisable immediately have a five-year term from the date of issuance.
About OpGen
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.
