Bionano Genomics, Inc. concludes public offering worth $10 million
Bionano Genomics, Inc. Announces Successful Public Offering
Bionano Genomics, Inc., a leading provider of genome analysis solutions for various research and clinical applications, has announced the successful closure of a public offering of 5,000,000 shares of common stock and related warrants at a combined price of $2.00 per share. The offering grossed approximately $10 million before deducting fees and expenses.
The placement agent responsible for the stock offering was CL King & Associates, Inc. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. Electronic copies of the final prospectus can be obtained from H.C. Wainwright & Co. or the SEC's website.
The securities were offered pursuant to a registration statement on Form S-1, which was declared effective by the Securities and Exchange Commission. The potential additional gross proceeds from exercised warrants could reach $20 million. The Series E warrants will expire in five years, while the short-term Series F warrants will expire in 18 months.
The company intends to use the net proceeds from the offering for working capital and general corporate purposes. Through its Lineagen, Inc. d/b/a Bionano Laboratories business, the Company also offers OGM-based diagnostic testing services. However, it is important to note that Bionano's products are intended for research use only and not for use in diagnostic procedures.
The offering is subject to risks and uncertainties, including the failure of the Category I CPT code to drive use and adoption of certain tests, the failure of tests to obtain coverage and reimbursement, the failure of the Category I CPT code to prove important for clinical OGM testing, the failure of OGM to outperform legacy cytogenomic methods, and the risk of not obtaining sufficient financing.
For company-related inquiries, please contact Erik Holmlin, CEO of Bionano Genomics, Inc., at (858) 888-7610 or [email protected]. For investor relations inquiries, please contact Kelly Gura of Gilmartin Group at (212) 229-6163 or [email protected]. More information about the company can be found on its website at www.bionano.com or www.bionanolaboratories.com.
The Annual Report on Form 10-K for the year ended December 31, 2024, and other filings with the Securities and Exchange Commission contain risks and uncertainties associated with the company's business and financial condition. It is advised to carefully review these documents before making any investment decisions.
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