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Stock impact report

OpGen Modifies Terms of Debt with Merck Global Health Innovation Fund

OpGen, Inc. (OPGN) 
Last opgen, inc. earnings: 11/6 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.opgen.com
Company Research Source: GlobeNewswire
GAITHERSBERG, Md., June 14, 2018 (GLOBE NEWSWIRE) -- OpGen, Inc. (NASDAQ:OPGN) today announced that it has negotiated modifications related to its $1,000,000 Second Amended and Restated Senior Secured Promissory Note (the “Note”), dated June 28, 2017, to extend the maturity of the note and to pay accrued interest through the issuance of shares of common stock. The Note is issued to Merck Global Health Innovation Fund, LLC (Merck GHI). The modifications provide that (1) accrued and unpaid interest of $285,512.22 due as of July 14, 2018, the original maturity date, will be paid through the issuance of shares of OpGen’s common stock in a private placement transaction; and (2) the maturity date of the Note is extended - the Note will be paid in six semi-annual payments of $166,666.67 plus accrued and unpaid interest beginning on January 2, 2019 and ending on July 1, 2021, the Final Maturity Date.  The number of shares of common stock to be issued will be determined after July 14, 2018 Show less Read more
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