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SAN DIEGO, Jan. 03, 2025 (GLOBE NEWSWIRE) — Bionano Genomics Inc. (Nasdaq: NASDAQ: ) today announced that it has entered into a definitive agreement with certain institutional investors for the purchase and sale of an aggregate of 39,682,540 shares of its common stock (or their equivalent) and warrants a purchase permit up to. a total of 39,682,540 shares of common stock (the Warrants), at an aggregate offering price of $0.252 per share of common stock (or per common stock equivalent) and accompanying Warrants in the direct subscription offering traded on the market under the rules of Nasdaq. The Warrants will have an exercise price of $0.252 per share, which will be exercised beginning on the effective date of the stockholder’s authorization of the issuance of shares of common stock upon exercise of the Warrants (Stockholder Acceptance of Stock) for a period of five years thereafter. Closing of the offering is expected to occur on or about January 6, 2024, subject to the satisfaction of customary closing conditions.
HC Wainwright & Co. acts as the sole agent placing the offering.
The total gross proceeds to the Company from the offering are expected to be $10 million, before deducting agent fees and other expenses paid by the Company. The net proceeds available to the Company from the Warrants, if fully exercised in cash, will be $10 million. No assurance can be given that Stockholder Approval will be achieved or that any of the Releases will be exercised. The Company intends to use all of the proceeds from this offering, together with its cash and cash equivalents and available assets for sale, for general business purposes, including working capital, research expenses and other expenses. development, repayment or redemption of debt and equity. damages.
The securities described above are being offered and sold by the Company in a direct-registered offering pursuant to a platform registration statement on Form S-3 (File No. 333-270459) originally filed in Securities and Exchange Commission (SEC) on March 10, 2023, and became effective on May 8, 2023. direct registration is done only through the agency. prospectus and prospectus supplement forming part of the effective registration statement. The final supplemental prospectus and accompanying prospectus relating to the direct registered offering will be filed with the SEC and will be available on the SEC’s website at. www.sec.gov. Electronic copies of the final prospectus supplement and accompanying prospectus, if any, may also be obtained, if available, from HC Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor , New York, NY 10022, by phone at (212) 856-5711 or e-mail at placements@hcwco.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor will there be any sale of these securities in any place at any other place where such offer, solicitation or sale will take place. which is illegal prior to registration or certification under the securities laws of any such government or other jurisdiction.
About Bionano
Bionano is a provider of genetic testing solutions that can help researchers and clinicians uncover answers to challenging questions in biology and medicine. The Company’s mission is to change the way the world sees the genome with optical genome mapping (OGM) solutions, analysis services and software. The company provides OGM solutions for applications across basic, translational and clinical research. The company also offers industry-leading, genome-agnostic software solutions, and nucleic acid and purification solutions using isotachophoresis (ITP) technology. Through its Lineagen, Inc. business. d/b/a Bionano Laboratories, the Company also provides diagnostic testing services for OGM-based diseases.
For more information, visit www.bionano.com or www.bionanolaboratories.com.
Bionano products are for research use only and not for diagnostic use.
Bionano Genomics Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Securities Exchange Act of 1995 that involve risks and uncertainties. Words like believe, can, could, may and similar expressions (as well as other words or expressions that describe future events, conditions or situations and their limitations) convey uncertainty of future events or results, and are intended to be indicative of future events. statements. Forward-looking statements include statements about our intentions, beliefs, estimates, expectations, evaluations or current expectations regarding, among other things, the completion of the offering and the satisfaction of customary closing conditions related to offering, use of proceeds, use of Warrants in cash prior to expiration, and receipt of Sponsor’s Approval. Each of these forward-looking statements involves risks and uncertainties.
Actual results or developments may differ materially from those expressed or implied in these forward-looking statements. Factors that could cause such differences include adjustments to our preliminary financial performance results resulting from, among other things, the completion of our audit procedures and period-end reporting; the effects of adverse political and macroeconomic events, such as recent and future bank failures, the ongoing Ukraine-Russia conflict, sanctions related to any global pandemic’ yes, in our trade and global economy; challenges in the development, production and commercialization of products; our ability to develop new products and applications and expand markets for our technology platform; our expectations and beliefs about the future growth of our business and the markets in which we operate; changes in our strategic and business plans; our ability to continue as a going concern, which requires us to control costs and obtain significant additional capital to support our strategic plans and business efforts; our ability to cure any deficiencies in compliance with the Nasdaq Listing Rules that could affect our ability to raise funds and our financial and business conditions; our ability to implement any strategic initiatives; the risk that if we fail to obtain additional funds we may seek relief under applicable insolvency laws; and other risks and uncertainties including those described in our filings with the Securities and Exchange Commission (SEC), including, without limitation, our Annual Report on Form 10-K for for the year ended 31 December 2023 and in other documents made by us. and the SEC. All forward-looking statements contained in this press release speak only as of the date they are made and are based on management’s thoughts and estimates as of that time. We undertake no obligation to update any of these forward-looking statements after the date they are made to conform these statements to actual results or revised expectations, except as required by law. Therefore, you should not rely on these forward-looking statements as representing our views as of any date after the date on which the statements are made. In addition, except as required by law, neither we nor any other party assumes responsibility for the accuracy or completeness of the forward-looking statements contained in this press release.
ADDED
Company Contact:
Erik Holmlin, CEO
Data sheet of Bionano Genomics, Inc.
+1 (858) 888-7610
eholmlin@bionano.com
Investor Relations:
David R. Holmes
The Gilmartin Group
+1 (858) 366-3243
david.holmes@gilmartinir.com
Source: Bionano Genomics
