OpGen - New public offering to support funding needs
After completing the 1:20 share consolidation, OpGen has announced a $7.5m equity issue to be closed by 11 January 2023. As part of the offering, OpGen will issue 2.6m common shares (or pre-funded warrants) at $2.90 per share, along with a similar number of Series A-1 and A-2 warrants. The warrants will be exercisable immediately at a strike price of $2.65 per share with respective expiry dates of five years and 18 months. OpGen plans to use the funds raised to accelerate commercialization efforts for its pipeline, capex and working capital needs, and to repay the outstanding European Investment Bank (EIB) loan. We will incorporate the fundraise in our valuation when the issue is completed.
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