Company: OPGN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008771
Chunk: 47

Company: OPGEN INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 47
---
 of June 30, 2025.
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 the Company’s 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 providing for: (1) granting
the Company the right, at its sole discretion, 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. Through June 30, 2025, 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 sole discretion, to sell to AEI Capital Ltd., at any time and from time to
time prior to December 31, 2025, up to $7.0 million of additional shares of common stock. 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.

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