OpGen Announces Exercise of All Prefunded Warrants

Rhea-AI Summary

OpGen, Inc. (Nasdaq: OPGN) announced the full exercise of 2,265,000 prefunded warrants from its public offering that concluded on January 11, 2023. This exercise resulted in the issuance of an equal number of common shares, bringing the total shares outstanding as of February 15, 2023, to 5,483,919. As of February 16, 2023, all prefunded warrants have been fully exercised. OpGen specializes in precision medicine through molecular diagnostics and bioinformatics, aiming to combat infectious diseases. Its product portfolio includes Unyvero, Acuitas AMR Gene Panel, and various AI-powered solutions.

Positive

• Full exercise of 2,265,000 prefunded warrants enhances liquidity.
• Total shares outstanding increased to 5,483,919, reflecting strong investor interest.

Negative

• None.

ROCKVILLE, Md., Feb. 17, 2023 (GLOBE NEWSWIRE) -- OpGen, Inc. (Nasdaq: OPGN, “OpGen” or “the Company”), a precision medicine company harnessing the power of molecular diagnostics and bioinformatics to help combat infectious disease, today announced that all of the prefunded warrants that were issued in its public offering that closed on January 11, 2023 have been exercised in full. In light of the exercise of the 2,265,000 prefunded warrants issued in the public offering, the Company has issued an equal number of common shares, resulting in a total number of shares outstanding as of February 15, 2023 of 5,483,919. As of February 16, 2023, no prefunded warrants remain outstanding.

About OpGen, Inc.

OpGen, Inc. (Rockville, MD, U.S.A.) is a precision medicine company harnessing the power of molecular diagnostics and bioinformatics to help combat infectious disease. Along with our subsidiaries, Curetis GmbH and Ares Genetics GmbH, we are developing and commercializing molecular microbiology solutions helping to guide clinicians with more rapid and actionable information about life threatening infections to improve patient outcomes, and decrease the spread of infections caused by multidrug-resistant microorganisms, or MDROs. OpGen’s current product portfolio includes Unyvero, Acuitas AMR Gene Panel, and the ARES Technology Platform including ARESdb, NGS technology and AI-powered bioinformatics solutions for antibiotic response prediction including ARESiss, ARESid, and AREScloud, as well as the Curetis CE-IVD-marked PCR-based SARS-CoV-2 test kit.

For more information, please visit www.opgen.com.

Forward-Looking Statements

This press release includes statements regarding the exercise of prefunded warrants of the Company. 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, the success of our commercialization efforts, our ability to successfully, timely and cost-effectively develop, seek and obtain regulatory clearance for and commercialize our product and services offerings, the rate of adoption of our products and services by hospitals and other healthcare providers, the fact that we may not effectively use proceeds from recent financings, the continued realization of expected benefits of our business combination transaction with Curetis GmbH, the continued impact of COVID-19 on the Company’s operations, financial results, and commercialization efforts as well as on capital markets and general economic conditions, our ability to satisfy debt obligations under our loan with the European Investment Bank, the effect of the military action in Russia and Ukraine on our distributors, collaborators and service providers, our liquidity and working capital requirements, 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:
Oliver Schacht
President and CEO
InvestorRelations@opgen.com

OpGen Press Contact:
Matthew Bretzius 
FischTank Marketing and PR
matt@fischtankpr.com

OpGen Investor Contact:
Alyssa Factor
Edison Group
afactor@edisongroup.com

FAQ

What did OpGen announce on February 17, 2023?

OpGen announced the full exercise of 2,265,000 prefunded warrants from its public offering.

How many shares are outstanding for OpGen as of February 15, 2023?

As of February 15, 2023, OpGen has 5,483,919 shares outstanding.

What is the stock symbol for OpGen?

OpGen's stock symbol is OPGN.

What is the significance of the prefunded warrants exercise for OpGen?

The exercise of the prefunded warrants enhances liquidity and demonstrates strong investor interest.

When did OpGen's public offering close?

OpGen's public offering closed on January 11, 2023.