OpGen Prices Offering

OpGen, an infection prevention and treatment company, said Thursday it has priced a public offering of 25 million units at $0.40 each. Each unit is comprised of one share of common stock and one common warrant to purchase one share. Each warrant has an exercise price of $0.425 per share, is exercisable immediately and will expire five years from issuance.

The company said it plans to use proceeds of roughly $10 million for general corporate purposes, including working capital and product development, particularly development of its one- to three-hour antibiotic resistance diagnostic product and repayment of all outstanding bridge financing notes.

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