OpGen’s Subsidiary Curetis and European Investment Bank Plan to Restructure Debt Repayment
Under the currently contemplated terms of the restructured repayment plan, OpGen’s subsidiary Curetis would repay
The parties also anticipate to increase the percent participation interest or PPI from its current 0.3% on then prevailing
The second and third tranches of
“After having looked at more than half a dozen different structures and term sheets that were presented to
While the company expects to finalize a restructuring with EIB on the foregoing terms, no definitive agreement has been signed yet. The parties expect to enter into an amendment to the existing finance agreement or a side letter thereto, as soon as practicable, memorializing the foregoing terms. Nevertheless, there can be no guarantee that the parties will ultimately enter into an agreement with respect to the contemplated restructuring or, if they do, as to the terms thereof.
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This press release includes statements regarding the restructuring of certain indebtedness with the EIB. These statements and other statements regarding OpGen’s future plans and goals constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control, and which may cause results to differ materially from expectations. Factors that could cause our results to differ materially from those described include, but are not limited to, the success of our commercialization efforts, our ability to successfully, timely and cost-effectively develop, seek and obtain regulatory clearance for and commercialize our product and services offerings, the rate of adoption of our products and services by hospitals and other healthcare providers, the fact that we may not effectively use proceeds from recent financings, the continued realization of expected benefits of our business combination transaction with Curetis GmbH, the continued impact of COVID-19 on the Company’s operations, financial results, and commercialization efforts as well as on capital markets and general economic conditions, the effect of the military action in Russia and Ukraine on our distributors, collaborators, and service providers, our liquidity and working capital requirements, the effect on our business of existing and new regulatory requirements, and other economic and competitive factors. For a discussion of the most significant risks and uncertainties associated with OpGen's business, please review our filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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Source: OpGen, Inc.