OpGen Announces Pricing of Public Offering of Common Stock

OpGen (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.

As quoted in the press release:

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.

Click here to read the full press release.