EIB terminates Standstill Agreement with OpGen; subsidiaries in insolvency proceedings

CapForce Inc.

On Nov 20, 2023, EIB terminated the Standstill Agreement effective immediately.
Termination due to Curetis GmbH and Ares Genetics GmbH entering insolvency proceedings.
EIB may now exercise rights under the Dec 2016 Finance Contract, including acceleration.
Previously, the Standstill Agreement had prevented EIB action until Nov 30, 2023.
OpGen's wholly owned subsidiaries Curetis (borrower) and Ares (guarantor) are in insolvency.

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. terminated Standstill Agreement with European Investment Bank valued at Standstill Agreement terminated by EIB (effective 2023-11-20).

Action: termination
Counterparty: European Investment Bank
Value: Standstill Agreement terminated by EIB
Effective: 2023-11-20

Exact text from the filing

On November 20, 2023, Curetis received a termination notice from the EIB terminating the Standstill Agreement effective as of November 20, 2023.

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CapForce Inc. filing history →

Source: SEC EDGAR

accession 0001079973-23-001649

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