Company: OPGN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008771
Chunk: 68

Company: OPGEN INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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 for the Company entering into the March 2024 Purchase Agreement.

In
July 2024, Mr. Lazar consummated a transaction pursuant to which he sold 550,000
shares of Series E Preferred Stock together with his rights to purchase the additional 2,450,000
shares of Series E Preferred Stock under the March 2024 Purchase Agreement to AEI Capital Ltd. Subsequently, AEI
Capital Ltd. paid the Company $2.45 million in August 2024 in exchange for the remaining 2,450,000 shares of Series E Preferred
Stock under the terms of the March 2024 Purchase Agreement. All 3,000,000
shares of Series E Preferred Stock were subsequently converted into 7,200,000
shares of the Company’s common stock in August 2024. As of September 30, 2024, no shares of Series E Preferred Stock
remained outstanding. Upon conversion, such shares of Series E Preferred Stock resumed the status of authorized but unissued shares
of undesignated preferred stock of the Company. Upon receipt of the funding from AEI Capital Ltd. and pursuant to the Settlement
Agreements with the EIB and Curetis and the March 2024 Purchase Agreement, the Company paid and settled its outstanding
indebtedness with the EIB and Curetis. Settlement with EIB also terminated that certain Guarantee and Indemnity Agreement, dated as
of July 9, 2020, by and between the EIB and the Company, pursuant to which the Company had guaranteed all of Curetis’
debt to the EIB.

    18

In August 2024, the Company entered into a Securities Purchase Agreement (the “August 2024 Securities Purchase Agreement”) with AEI Capital Ltd., pursuant to which the Company had the right, in its discretion, to sell to AEI Capital Ltd., at any time prior to September 30, 2024, shares of common stock, par value $0.01 per share (the “Shares”), of the Company having an aggregate value of up to $3.0 million (the “Financing”). The Company will control the timing and amount of any sales of Shares pursuant to the August 2024 Securities Purchase Agreement. 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