Company: OPGN
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001829126-25-006628
Chunk: 372

Company: OPGEN INC
Filing Date: 2025-08-21
Form: 10-K
Item: Item 1B
Chunk 372
---
 sole discretion, to sell to AEI Capital Ltd. shares of common stock having an aggregate value of up to $3.0 million. The
purchase price for any shares sold under the August 2024 Securities Purchase Agreement is the closing sales price on the Nasdaq
Capital Market of the Company’s common stock as of the date immediately prior to the date of sale. In addition, in
October 2024, the Company and AEI Capital Ltd. entered into a First Amendment (the “Amendment”) to the
August 2024 Securities Purchase Agreement. The Amendment amended the August 2024 Securities Purchase Agreement by: (1)
granting the Company the right to sell two additional tranches of common stock to AEI Capital Ltd. of $3.0 million each, for an
aggregate amount of $9.0
million under the Purchase Agreement; and (2) extending the Company’s ability to sell shares of common stock to AEI Capital
Ltd. under the Purchase Agreement until December 31, 2025. As of December 31, 2024, the Company sold 1,079,109
shares of common stock to AEI Capital Ltd. for gross proceeds of $2.0
million before deducting offering expenses. Accordingly, the Company has the right, in its discretion, to sell to AEI Capital Ltd.,
at any time prior to December 31, 2025, shares of common stock, par value $0.01
per share (the “Shares”), of the Company having an aggregate value of up to an additional $7.0
million. As a result, the Company believes that its current cash and its access to additional cash under the August 2024
Securities Purchase Agreement will allow the Company to fund operations in excess of 12 months from the issuance date of these
financial statements.

    F-10

On June 5, 2024, the Company received a letter from the listing staff of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company was no longer in compliance with the minimum stockholders’ equity requirement for continued listing on Nasdaq pursuant to Nasdaq Listing Rule 5550(b)(1) (the “Stockholders’ Equity Rule”). The Stockholders’ Equity Rule requires companies listed on the Nasdaq Capital Market to maintain stockholders’ equity of at least $2,500,000 or to meet alternatives of market value of listed securities or net income from continuing operations, which the Company does not currently