OpGen Completes IPO

The company had previously priced its stock offering at $5.50–$6.50 per unit (see IBO 4/30/15). The stock closed at $3.99 per share on May 15.

Gaithersburg, MD 5/5/15; Washington, DC 5/5/15—OpGen has completed its IPO (see IBO 4/30/15), listing units on the NASDAQ Capital Markets at $6.00 each. The IPO consisted of 2,850,000 units and is expected to raise $17.1 million before expenses, with estimated net proceeds of $12.8 million, or $15.8 million if underwriters exercise their options. Each unit consists of one share of common stock and a warrant to purchase a share of common stock. The stock and warrants trade separately. Each warrant can be exercised immediately for one share of common stock at a price of $6.60 per share, if the underwriters exercise their right to purchase additional shares.

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