OpGen Announces Pricing of Public Offering of Common Stock
October 18 2018 - 7:14AM
OpGen, Inc. (NASDAQ: OPGN) today announced the
pricing of an underwritten public offering of approximately 2.2
million shares of its common stock at a public offering price of
$1.45 per share. The company has also granted to the underwriters a
45-day option to acquire an additional 330,751 shares to cover
overallotments in connection with the offering. The gross
proceeds to OpGen from this offering, before deducting underwriting
discounts and commissions and offering expenses payable by OpGen,
are expected to be approximately $3.2 million. The offering
is expected to close on or about October 22, 2018, subject to
customary closing conditions.
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
Panel tests, including its Acuitas AMR Gene Panel u5.47 that was
released for Research Use Only in February 2018 and its Acuitas
Lighthouse® software, to support acquisitions of products and
technologies, capital expenditures, working capital and other
general corporate purposes.
Aegis Capital Corp. acted as the sole
book-running manager for the offering.
The shares will be issued pursuant to a shelf
registration statement previously filed with and subsequently
declared effective by the Securities and Exchange Commission (SEC).
A final prospectus supplement and accompanying prospectus will be
filed with the SEC. A copy of the final prospectus supplement and
accompanying prospectus relating to the offering, when available,
may be obtained by contacting Aegis Capital Corp., 810 7th Avenue,
18th Floor, New York, NY 10019, (212) 813-1010 or by accessing the
SEC's website, www.sec.gov.
This press release does not and shall not
constitute an offer to sell or the solicitation of an offer to buy
any 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 registration or qualification
under the securities laws of any such state or other jurisdiction.
Any offer, if at all, will be made only by means of a prospectus,
including a prospectus supplement, forming a part of the effective
registration statement.
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. For more information, please visit www.opgen.com.
OpGen, Acuitas, Acuitas Lighthouse, and
QuickFISH are registered trademarks of OpGen, Inc.
The Acuitas AMR Gene Panel u5.47 (RUO) and the
Acuitas Lighthouse Software (RUO) are intended for Research Use
Only and are not for use in diagnostic procedures. The Acuitas
Lighthouse Software is not distributed commercially for antibiotic
resistance prediction and is not for use in diagnostic
procedures.
Forward-Looking Statements
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,
our ability to successfully complete the pilot portion of the NY
State project, the rate of adoption of our products and services by
hospitals and other healthcare providers, 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. 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.
OpGen Contact: Michael Farmer Vice President,
Marketing (240)
813-1284mfarmer@opgen.comInvestorRelations@opgen.com
Investor Contacts: LHA Investor Relations Kim
Sutton Golodetz (212) 838-3777 kgolodetz@lhai.com or Bruce Voss
(310) 691-7100 bvoss@lhai.com
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