Bionano Announces up to $30 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules
SAN DIEGO, July 05, 2024 (GLOBE NEWSWIRE) — Bionano Genomics, Inc. (Nasdaq:BNGO) today announced that it has entered into definitive agreements with healthcare-focused institutional investors for the purchase and sale of an aggregate of 17,513,136 shares of its common stock (or common stock equivalents in lieu thereof) at an offering price of $0.571 per share of common stock (or per common stock equivalent in lieu thereof), in a registered direct offering priced at-the-market under Nasdaq rules. Additionally, in a concurrent private placement, the Company has also agreed to issue to the investors unregistered clinical milestone-linked warrants, comprising Series A warrants to purchase up to an aggregate of 17,513,136 shares of common stock and Series B warrants to purchase up to an aggregate of 17,513,136 shares of common stock (collectively, the “Series Warrants”). The Series Warrants will have an exercise price of $0.571 per share and will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares of common stock upon exercise of the Series Warrants (the “Stockholder Approval”). The Series A warrants will expire on the earlier of (i) the 24-month anniversary of the date of the Stockholder Approval and (ii) 60 days following the later of (a) the date of the public announcement of the occurrence of a medical administrative contractor (including, without limitation, Molecular Diagnostic Services (MolDX)), issuing a final local coverage determination for optical genome mapping for hematological malignancies and (b) the date of the Stockholder Approval. The Series B warrants will expire on the earlier of (i) the five-year anniversary of the date of the Stockholder Approval and (ii) six months following the later of (a) the date of the public announcement of the occurrence of the Company receiving clearance from the U.S. Food and Drug Administration for an optical genome mapping system for any indication and (b) the date of Stockholder Approval. The closing of the offering is expected to occur on or about July 8, 2024, subject to the satisfaction of customary closing conditions.