OpGen Enters Into Warrant Inducement Transaction For Up To $11.2M In Gross Proceeds
Portfolio Pulse from Benzinga Newsdesk
OpGen, Inc. (NASDAQ:OPGN) has entered into an agreement with an institutional investor to exercise existing warrants to purchase up to 10,892,728 common shares at $0.7785 per share. The investor will pay an additional $0.25 per share, resulting in gross proceeds of up to $11.2 million. The company will issue new warrants to the investor, exercisable at $0.336 per share, expiring in 2028.
October 12, 2023 | 4:40 pm
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OpGen's agreement with an institutional investor to exercise existing warrants could result in gross proceeds of up to $11.2 million. This could potentially improve the company's financial position.
The agreement allows OpGen to potentially raise up to $11.2 million in gross proceeds, which could be used to fund its operations and growth initiatives. This could potentially improve the company's financial position and make it more attractive to investors, potentially leading to a positive impact on its stock price.
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