Why Is Penny Stock OpGen Trading Higher On Tuesday?
Portfolio Pulse from Vandana Singh
OpGen Inc (NASDAQ:OPGN) shares surged after announcing a securities purchase agreement with David Lazar for 3 million shares of Series E Convertible Preferred Stock, totaling $3.0 million. The funds will be used for debt repayment and general corporate purposes. Lazar's investment led to significant board changes, including his upcoming appointment as CEO. The deal also includes settling liabilities with the European Investment Bank and Curetis. OPGN shares jumped 50.1% to $0.71.
March 26, 2024 | 1:52 pm
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OpGen Inc's stock price surged following the announcement of a significant investment by David Lazar and subsequent board and leadership changes.
The positive reaction in OpGen Inc's stock price can be attributed to the influx of capital through the securities purchase agreement, which will help in repaying debts and supporting general corporate activities. Additionally, the appointment of David Lazar to the board and his future role as CEO, along with the settlement of outstanding liabilities, are viewed favorably by investors, indicating a potential turnaround or strategic shift for the company.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100