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MarketScreener Homepage  >  Equities  >  Nasdaq  >  OpGen, Inc.    OPGN


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OPGEN INC : Entry into a Material Definitive Agreement, Other Events, Financial Statements and Exhibits (form 8-K)

11/13/2020 | 05:05pm EST

Item 1.01 - Entry into a Material Definitive Agreement.

As previously reported, on February 11, 2020, OpGen, Inc. (the "Company") entered into an At the Market Offering Agreement (the "Sales Agreement") with H.C. Wainwright & Co., LLC ("Wainwright"), pursuant to which the Company may sell, from time to time, in an "at the market offering," at its option, shares (the "Shares") of the Company's common stock, $0.01 par value per share, through Wainwright.

On November 13, 2020, the Company entered into an amended and restated Sales Agreement (the "Amendment"), with Wainwright and BTIG, LLC ("BTIG" and, together with Wainwright, the "Agents"), pursuant to which BTIG was added as an additional sales agent under the Sales Agreement.

Under the Sales Agreement as modified by the Amendment, the Company will pay the applicable Agent a commission equal to three percent (3.0%) of the gross sales proceeds of any Shares sold through such Agent under the Sales Agreement. The Shares to be sold under the Sales Agreement as amended by the Amendment, if any, will be issued and sold by methods deemed to be an "at the market offering" as defined in Rule 415 promulgated under the Securities Act of 1933, including, without limitation, sales made by means of ordinary brokers' transactions on the NASDAQ Capital Market or otherwise at market prices prevailing at the time of sale, in block transactions, or otherwise as directed by the Company.

The Sales Agreement as amended by the Amendment is filed as Exhibit 1.1 to this report and the foregoing description of the Sales Agreement is qualified in its entirety by reference to such exhibit.

This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy the Shares, nor shall there be any sale of the Shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Item 8.01 - Other Events.

On November 12, 2020, the Company issued a press release announcing the commercial launch of a next-generation sequencing-based antibiotic resistance testing service by its subsidiary, Ares Genetics GmbH. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 - Financial Statements and Exhibits.

(d) Exhibits

1.1 Amended and Restated At the Market Offering Agreement, dated November 13,

2020, by and among OpGen, Inc., H.C. Wainwright & Co., LLC and BTIG, LLC

 5.1   Opinion of Ballard Spahr LLP

 23.1   Consent of Ballard Spahr LLP (included in Exhibit 5.1)

 99.1   Press Release, dated November 12, 2020

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 4,14 M - -
Net income 2020 -26,1 M - -
Net Debt 2020 14,6 M - -
P/E ratio 2020 -1,38x
Yield 2020 -
Capitalization 51,5 M 51,5 M -
EV / Sales 2020 16,0x
EV / Sales 2021 8,01x
Nbr of Employees 39
Free-Float 99,9%
Duration : Period :
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Technical analysis trends OPGEN, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 3
Average target price 4,83 $
Last Close Price 2,29 $
Spread / Highest target 147%
Spread / Average Target 111%
Spread / Lowest Target 74,7%
EPS Revisions
Managers and Directors
Oliver Schacht Chief Executive Officer & Director
Bill E. Rhodes Non-Executive Chairman
Johannes Bacher Chief Operating Officer
Timothy C. Dec CFO, Secretary & Chief Accounting Officer
Vadim Sapiro Chief Information Officer
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