Skip to main content
Premium Trial:

Request an Annual Quote

OpGen Enters $25M Direct Offering Agreement

NEW YORK – OpGen announced on Tuesday that it has inked a definitive agreement with a US-based investor for a $25 million registered direct offering.

The unnamed healthcare-focused institutional investor is purchasing 2,784,184 shares of common stock and 5,549,149 prefunded warrants where each warrant is exercisable for one share of common stock, OpGen said. In a concurrent private placement, the company is issuing unregistered common share purchase warrants to purchase 4,166,666 shares of common stock.

The offering is expected to close Feb. 11 and Alliance Global Partners is acting as sole placement agent.

The share of common stock and its accompanying common warrant are being sold at a combined offering of $3.00 and the pre-funded warrant with its accompanying common warrant are being sold for $2.99, priced at-the-market under Nasdaq rules. 

The prefunded warrants are immediately exercisable at the exercise price of $.01 and can be exercised until all of the pre-funded warrants are exercised in full. Meanwhile, the common warrants will have an exercise price of $3.55 per share and will be exercisable six months after the date of issuance. The common warrants will expire five-and-a-half years from the date of issuance, OpGen said.

The Scan

Back as Director

A court has reinstated Nicole Boivin as director of the Max Planck Institute for the Science of Human History, Science reports.

Research, But Implementation?

Francis Collins reflects on his years as the director of the US National Institutes of Health with NPR.

For the False Negatives

The Guardian writes that the UK Health Security Agency is considering legal action against the lab that reported thousands of false negative COVID-19 test results.

Genome Biology Papers Present Epigenetics Benchmarking Resource, Genomic Architecture Maps of Peanuts, More

In Genome Biology this week: DNA methylation data for seven reference cell lines, three-dimensional genome architecture maps of peanut lines, and more.