Company: OPGN
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001829126-25-006628
Chunk: 681

Company: OPGEN INC
Filing Date: 2025-08-21
Form: 10-K
Item: Item 3
Chunk 681
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 Stock under the terms of the March 2024 Purchase Agreement. 

    ●
    In August 2024, we entered into a securities purchase agreement (the “August 2024 Securities Purchase Agreement”) with AEI Capital Ltd., pursuant to which we have the right, in our 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, of the Company having an aggregate value of up to $3.0 million. As of September 30, 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. In October 2024, we entered into a First Amendment (the “Amendment”) to the securities purchase agreement with AEI Capital Ltd. whereby we were: (i) granted 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 securities purchase agreement; and (ii) our ability to sell shares of common stock to AEI Capital Ltd. under the securities purchase agreement was extended until December 31, 2025. 

Sources and uses of cash

The following table summarizes the net cash provided by (used in) operating activities, investing activities and financing activities for the periods indicated:

    Years ended December 31,

    2024

    2023

    Net cash provided by (used in)

     Operating activities
     
    $
    (4,869,744
    )
     
    $
    (14,319,542
    )
  
     Investing activities

    -

    (800,412
    )
  
    Financing activities

    5,028,574

    8,373,314

    Net increase (decrease) in cash and cash equivalents
     
    $
    158,830

    $
    (6,746,640
    )

26

Net cash used in operating activities

Net cash used in operating activities in 2024 consisted primarily of our net income of $12.0 million, adjusted for certain non-cash items, including the change in fair value of the EIB loan guaranty of $10.9 million, the gain on impairment adjustment of $2.1 million, and the net change in operating assets and liabilities of