Company: OPGN
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001829126-25-006628
Chunk: 625

Company: OPGEN INC
Filing Date: 2025-08-21
Form: 10-K
Item: Item 2
Chunk 625
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 which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. Since inception, the Company has incurred significant losses from operations and negative operating cash flows. Historically, the Company has funded its operations primarily through external investor financing arrangements and strategic actions taken by the Company, but going forward, the Company anticipates funding its operations primarily through financing arrangements with AEI Capital Ltd. Through the Company’s financing efforts, which include, among others, securities purchase agreements, warrant inducement agreements, and public offerings, the Company has received gross proceeds of approximately $13.3 million and $5.0 million in 2023 and 2024, respectively.

Although the Company has cash and cash
equivalents of $1.3
1,310,653 million as of December 31, 2024, in August 2024, the Company and AEI Capital Ltd. entered into a Securities
Purchase Agreement (the “August 2024 Securities Purchase Agreement”), pursuant to which the Company has the right,
in its 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