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OpGen Prices $9.4M Stock, Warrant Offering

NEW YORK — OpGen said on Thursday that it has priced its planned $9.4 million stock and warrant offering.

The Gaithersburg, Maryland-based company said it will sell 4.7 million units, comprising one share of common stock and one warrant to buy one share of common stock, for $2 apiece. OpGen said it expects to gross $9.4 million through the transaction, although it has also granted the underwriters of the offering an option to purchase an additional 705,000 common shares and/or warrants to purchase up to 705,000 shares.

OpGen had previously expected to offer $10.4 million in stock and warrants.

HC Wainwright is acting as sole book-running manager for the offering, which is expected to close on or around Oct. 28.

OpGen said it will primarily use the proceeds of the offering to complete its acquisition of German molecular diagnostics firm Curetis, provide short-term funding to Curetis, and support the ongoing submission of its Acuitas AMR Gene Panel and its Acuitas Lighthouse software for antibiotic resistance detection to US regulators.

OpGen submitted the test and software to the US Food and Drug Administration in May, but received a request for additional information from the agency a few months later.

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