Bionano Genomics Secures $30 Million Lifeline in Strategic Registered Direct Offering

Bionano Genomics (NASDAQ: BNGO) has entered into agreements with healthcare-focused institutional investors for a $30 million registered direct offering, including $10 million upfront and potential for an additional $20 million through milestone-linked warrants.

Key points:

  • The offering includes 17,513,136 shares of common stock (or equivalents) at $0.571 per share, priced at-the-market under Nasdaq rules.
  • Unregistered clinical milestone-linked warrants (Series A and B) are being issued in a concurrent private placement, with an exercise price of $0.571 per share.
  • The offering’s closing is expected around July 8, 2024, subject to customary closing conditions.

Market impact: Bionano’s stock price fell nearly 6% in pre-market trading following the announcement, indicating initial market concern about potential dilution. However, the total potential funding of $30 million could significantly bolster the company’s financial position for future growth and development in the genomics space.

Source: Bionano Announces Up to $ Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules

Money roll.


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