OpGen subsidiary Curetis secures standstill on €3M debt due June 22, 2023

CapForce Inc.

Standstill prevents EIB from exercising acceleration or termination rights on €3M principal plus interest until Nov 30, 2023 or restructuring agreement.
Curetis paid €1M partial interest payment as condition of standstill.
Curetis must deliver bi-weekly liquidity forecasts and third-party restructuring opinion by Nov 15, 2023.
EIB can terminate standstill on failure to comply, negative liquidity shortfall, or if restructuring not feasible.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CapForce Inc. entered into Standstill Agreement with European Investment Bank valued at €3 million in principal plus accumulated interest (effective 2023-07-04).

Action: entry
Counterparty: European Investment Bank
Value: €3 million in principal plus accumulated interest
Effective: 2023-07-04

Exact text from the filing

On July 4, 2023, OpGen, Inc. (the “Company”) entered into a Standstill Agreement (the “Standstill Agreement”), by and among Curetis GmbH, the Company’s wholly owned subsidiary, as borrower (“Curetis”), the Company and Ares Genetics GmbH, the Company’s wholly owned subsidiary, as guarantors (collectively, the “Guarantors”), and the European Investment Bank, as lender (“EIB”), relating to that certain Finance Contract, originally dated December 12, 2016, as amended, by and between Curetis and EIB (the “Finance Contract”).

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Source: SEC EDGAR

accession 0001079973-23-000910

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