2024-03-26 09:07:11 ET
DENVER, Colo., Mar 26, 2024 ( 247marketnews.com )- OpGen, Inc. (NASDAQ: OPGN ) announced, after yesterday’s market close, that David E. Lazar, an experienced private investor, was appointed to the Board of Directors of OpGen and will be appointed CEO, following the closing of an acquisition of 3,000,000 shares of Series E Convertible Preferred OpGen Stock, for $3 million.
The transaction proceeds will be used to repay and settle OpGen’s outstanding debt and liabilities and for other general corporate and operating purposes.
Lazar stated, “I am pleased to announce my significant investment in OpGen given the meaningful opportunity I believe the Company represents and am eager to begin working with the Board of Directors and management to actively explore potential strategic options to drive shareholder value.”
Oliver Schacht, PhD, former CEO of OpGen and now Executive VP of Corporate Development said, “We are pleased with the outcome of our strategic process. With Curetis and Ares Genetics businesses and assets being sold by the respective trustees in Germany and Austria to strategic acquirors, this financing transaction provides an opportunity for OpGen to settle its outstanding liabilities with its major creditors. We believe the transaction also offers future opportunities for OpGen stockholders to participate in possible future strategic transactions under the leadership of David Lazar and the new members of the board.”
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David Lazar to become OpGen CEO in Conjunction with Preferred Stock Acquisition