Company: OPGN
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001829126-25-009312
Chunk: 23

Company: OPGEN INC
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 $1.2 million and $0.8 million, respectively, following the Company’s identification of a subtenant (see Note 3). During the nine months ended September 30, 2025, the Company did not record any such impairment expenses.

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Note 7 – Debt

In 2016, the Company’s previously consolidated subsidiary, Curetis, entered into a contract for an up to €25.0 million senior, unsecured loan financing facility from the European Investment Bank (“EIB”). The debt was amended several times through 2020 and was guaranteed by OpGen, Inc.

In December 2023, the Company received a notice from the EIB stating that Curetis was in default and pursuant to that certain Guarantee and Indemnity Agreement, between the EIB and the Company, the EIB demanded that the Company, as guarantor, immediately repay the EIB all amounts owed to the EIB. In March 2024, the Company entered into settlement agreements with each of the EIB and Curetis and Curetis’ trustee in insolvency, pursuant to which the Company agreed to pay a total of $2.0 million to settle all outstanding debt and liabilities of the Company to EIB and Curetis. In August 2024, the Company paid and settled its outstanding indebtedness with the EIB and Curetis, which terminated the Guarantee and Indemnity Agreement. Accordingly, upon termination of such Guarantee and Indemnity Agreement, the Company recorded a gain on extinguishment of debt in excess of $9.7 million.

Short-term insurance financing

In May 2025, the Company entered into an agreement to finance a portion of the premium for its directors and officers’ insurance policy for the policy period of May 2025 through May 2026. The agreement provides for financing of approximately $284,000 of the premium, which financing will be repaid in 10 equal monthly installments of approximately $29,000 each through March 2026 and accrued interest at 6.85%.

In May 2024, the Company entered into an agreement to finance a portion of the premium for its directors and officers’ insurance policy for the policy period of May 2024 through May 2025. The agreement provided for financing of approximately $301,000 of the premium, which financing would be repaid in 10 equal monthly installments of approximately $31,000 each through March 2025 and accrued