SAN DIEGO - Bionano Genomics, Inc. (NASDAQ:BNGO), a genome analysis company, has entered into definitive agreements for a registered direct offering, the company disclosed today. The offering includes the sale of approximately 8.73 million shares and warrants to purchase up to an equivalent number of shares, with an expected closing date on or about April 8, 2024.
The shares and accompanying warrants are priced at $1.145 and $1.02 per share, respectively, and the warrants are exercisable immediately upon issuance with a five-year term. Investment banking firm H.C. Wainwright & Co. is serving as the exclusive placement agent for the transaction.
Bionano Genomics anticipates gross proceeds of about $10 million before deductions for placement agent fees and other expenses. The company plans to allocate the net proceeds for general corporate purposes, which include working capital, research and development, repayment of debts, and capital expenditures.
The securities are being offered pursuant to a shelf registration statement on Form S-3, which was filed with the Securities and Exchange Commission (SEC) on March 10, 2023, and became effective on May 8, 2023. The offering is made only by means of a base prospectus and prospectus supplement that forms a part of the effective registration statement.
The final prospectus supplement and the accompanying base prospectus will be filed with the SEC and made available on its website. Interested parties can also obtain these documents from H.C. Wainwright & Co. upon request.
This announcement is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy any securities. The sale of these securities will not proceed in any jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Bionano Genomics specializes in providing genome analysis solutions designed to assist researchers and clinicians. The company's portfolio includes optical genome mapping (OGM) solutions, diagnostic services, and software for integrated genomic analysis. Bionano's OGM products are currently for research use only and not for use in diagnostic procedures.
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