OpGen Announces Special Meeting of Stockholders to Vote on Proposed Increase to Number of Authorized Shares of Common Stock

Rhea-AI Summary

OpGen, Inc. (Nasdaq: OPGN) has scheduled a Special Meeting of stockholders for December 8, 2021, to vote on increasing its authorized shares from 50 million to 100 million. Additionally, the meeting will seek to lower the stockholder approval requirement for changes to the Company's Amended Certificate of Incorporation to a majority of outstanding shares. Stockholders eligible to vote are those on record as of October 19, 2021. Details are outlined in the Definitive Proxy Statement filed with the SEC on October 29, 2021.

Positive

• Proposal to increase authorized shares may provide OpGen with greater flexibility in financing and expansion efforts.

Negative

• Increasing authorized shares could lead to shareholder dilution if additional shares are issued.

ROCKVILLE, Md., Nov. 04, 2021 (GLOBE NEWSWIRE) -- OpGen, Inc. (Nasdaq: OPGN, “OpGen” or the “Company”), a precision medicine company harnessing the power of molecular diagnostics and informatics to help combat infectious disease, announced it has scheduled a Special Meeting of stockholders for December 8, 2021 at 10:00 a.m., Eastern time, to approve its proposed increase of the number of authorized shares of common stock from 50 million to 100 million and to reduce the stockholder approval requirement for changes to the Company’s Amended and Restated Certificate of Incorporation, as amended, to a majority of the outstanding shares entitled to vote. The proposal to increase the Company’s authorized shares of common stock and reduce the stockholder approval requirement is set forth in the Company’s Definitive Proxy Statement filed with the Securities and Exchange Commission on October 29, 2021.

Stockholders as of close of business on October 19, 2021, the record date for the Special Meeting, are encouraged to vote over the Internet at http://www.pstvote.com/opgenspecial2021. Stockholders needing assistance voting or have questions may contact the Company’s proxy solicitation firm, Alliance Advisors, LLC, at 800-574-6217 or melissacarlson@allianceadvisors.com.

About OpGen, Inc.

OpGen, Inc. (Gaithersburg, MD, USA) is a precision medicine company harnessing the power of molecular diagnostics and bioinformatics to help combat infectious disease. Along with 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 product portfolio includes Unyvero®, Acuitas® AMR Gene Panel and Acuitas® Lighthouse, and the ARES Technology Platform including ARESdb®, using NGS technology and AI-powered bioinformatics solutions for antibiotic response prediction.

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

Forward-Looking Statements

This press release includes statements regarding the scheduling of OpGen’s Special Meeting. 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 obtain stockholder approval for an increase in the Company’s authorized shares of common stock or otherwise pursue alternative means of continued financing for its operations, 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 realization of expected benefits of our business combination transaction with Curetis GmbH, the success of our commercialization efforts, the impact of COVID-19 on the Company’s operations, financial results, and commercialization efforts as well as on capital markets and general economic conditions, 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:
Maxwell Colbert
Edison Group 
mcolbert@edisongroup.com

FAQ

What is the purpose of the Special Meeting scheduled by OpGen on December 8, 2021?

The Special Meeting aims to approve an increase in the authorized shares from 50 million to 100 million and to modify stockholder approval requirements.

Who can vote at OpGen's Special Meeting on December 8, 2021?

Stockholders as of the close of business on October 19, 2021, are eligible to vote at the Special Meeting.

What does OpGen's proposal to increase authorized shares mean for investors?

The proposal may enhance OpGen's financing options but also risks diluting existing shareholders' equity if new shares are issued.