- OpGen ( NASDAQ: OPGN ) announced Friday it has signed a $3.38M securities purchase deal with a single institutional investor.
- It includes the the direct offering of 9,660,000 shares of OpGen ( OPGN ), 33,810 shares of its Series C mirroring preferred stock, and warrants to purchase up to same number of shares, at a combined purchase price of $0.35 each.
- Warrants have an exercise price of $0.377 per share and and will expire in five and one-half years.
- The management said, "the company intends to use the net proceeds to (i) continue commercialization of the FDA-cleared Acuitas AMR Gene Panel test for isolates in the U.S.; (ii) commercialize our other products with a focus on the Unyvero platform and diagnostic tests; (iii) support further development and commercialization of the Ares Genetics database; among other investments"
- Closing of the offering is expected on Oct. 3, 2022.
- OPGN shares are down 14% in pre-market on Friday.
- Earlier: OpGen's subsidiary signs R&D agreement with FIND
For further details see:
OpGen to raise $3.38M in direct stock offering