Bionano Announces $10 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules
04 Avril 2024 - 7:44PM
Bionano Genomics, Inc. (Nasdaq: BNGO) today announced that it has
entered into definitive agreements for the purchase and sale of an
aggregate of 8,733,626 shares of its common stock (or common stock
equivalents in lieu thereof) and warrants to purchase up to an
aggregate of 8,733,626 shares of its common stock at an offering
price of $1.145 per share of common stock (or per common stock
equivalent in lieu thereof) and accompanying warrant, in a
registered direct offering priced at-the-market under Nasdaq rules.
The warrants will be exercisable immediately upon issuance, have an
exercise price of $1.02 per share and expire five years from the
date of issuance. The closing of the offering is expected to occur
on or about April 8, 2024, subject to the satisfaction of customary
closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement
agent for the offering.
The gross proceeds to the Company from the offering are expected
to be approximately $10 million, before deducting the placement
agent’s fees and other offering expenses payable by the Company.
The Company intends to use the net proceeds from this offering,
together with its existing cash and cash equivalents and
available-for-sale securities, for general corporate purposes,
including working capital, research and development expenses,
repayment or redemption of existing indebtedness and capital
expenditures.
The securities described above are being offered and sold by the
Company in a registered direct offering pursuant to a “shelf”
registration statement on Form S-3 (File No. 333-270459) that was
originally filed with the Securities and Exchange Commission (the
“SEC”) on March 10, 2023 and became effective on May 8, 2023. The
offering of such securities in the registered direct offering is
being made only by means of a base prospectus and prospectus
supplement that forms a part of the effective registration
statement. A final prospectus supplement and the accompanying base
prospectus relating to the registered direct 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 the accompanying base prospectus may also be obtained, when
available, from H.C. 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 shall not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or other jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of any such state or other
jurisdiction.
About Bionano
Bionano is a provider of genome analysis solutions that can
enable researchers and clinicians to reveal answers to challenging
questions in biology and medicine. The Company’s mission is to
transform the way the world sees the genome through OGM solutions,
diagnostic services and software. The Company offers OGM solutions
for applications across basic, translational and clinical research.
Through its Lineagen, Inc. d/b/a Bionano Laboratories business, the
Company also provides diagnostic testing for patients with clinical
presentations consistent with autism spectrum disorder and other
neurodevelopmental disabilities. The Company also offers an
industry-leading, platform-agnostic software solution, which
integrates next-generation sequencing and microarray data designed
to provide analysis, visualization, interpretation and reporting of
copy number variants, single-nucleotide variants and absence of
heterozygosity across the genome in one consolidated view. The
Company additionally offers nucleic acid extraction and
purification solutions using proprietary isotachophoresis (ITP)
technology. For more information, visit www.bionano.com,
www.bionanolaboratories.com or www.purigenbio.com.
Bionano’s OGM products are for research use only and not for use
in diagnostic procedures.
Forward-Looking Statements of Bionano
Genomics
This press release and the accompanying
conference call contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical facts contained in this press release, including
statements regarding our future results of operations or financial
condition, business strategy and plans, and objectives of
management for future operations, are forward-looking statements.
Words such as “anticipate”, “believe,” “could”, “estimate,”
“expect,” “intend,” “may,” “plan,” “potential”, “predict,”
“project,” “should,” “target,” “will,” or “would” and similar
expressions (as well as other words or expressions referencing
future events, conditions or circumstances) convey uncertainty of
future events or outcomes and are intended to identify these
forward-looking statements. Forward-looking statements include
statements regarding our intentions, beliefs, projections, outlook,
analyses or current expectations concerning, among other things:
the consummation of the registered direct offering and the
satisfaction of customary closing conditions related to the
registered direct offering and the use of proceeds therefrom. Each
of these forward-looking statements involves risks and
uncertainties. Accordingly, investors and prospective investors are
cautioned not to place undue reliance on these forward-looking
statements as they involve inherent risk and uncertainty (both
general and specific) and should note that they are provided as a
general guide only and should not be relied on as an indication or
guarantee of future performance. Actual results or developments may
differ materially from those projected or implied in these
forward-looking statements. Factors that may cause such a
difference include the risks and uncertainties associated with: the
timing and amount of revenue we are able to recognize in a given
fiscal period; our ability to obtain sufficient financing to fund
our strategic plans and commercialization efforts and our ability
to continue as a “going concern”; the impact of adverse
geopolitical and macroeconomic events, such as the ongoing
conflicts between Ukraine and Russia and Israel and Gaza and
uncertain market conditions, including inflation and supply chain
disruptions, on our business and the global economy; general market
conditions; changes in the competitive landscape and the
introduction of competitive technologies or improvements to
existing technologies; changes in our strategic and commercial
plans; the ability of medical and research institutions to obtain
funding to support adoption or continued use of our technologies;
study results that differ or contradict the results mentioned in
this press release; the risk that we are not able to complete a
strategic transaction that would increase stakeholder value; and
the risks and uncertainties associated with our business and
financial condition in general, including the risks and
uncertainties described in our filings with the Securities and
Exchange Commission, including, without limitation, our Annual
Report on Form 10-K for the year ended December 31, 2023 and in
other filings subsequently made by us with the Securities and
Exchange Commission. All forward-looking statements contained in
this press release speak only as of the date on which they were
made and are based on management’s assumptions and estimates as of
such date. We do not undertake any obligation to publicly update
any forward-looking statements, whether as a result of the receipt
of new information, the occurrence of future events or
otherwise.
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CONTACTS |
Company
Contact: |
Erik Holmlin,
CEO |
Bionano Genomics,
Inc. |
+1 (858)
888-7610 |
eholmlin@bionano.com |
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Investor
Relations: |
David R.
Holmes |
Gilmartin
Group |
+1 (858)
366-3243 |
david.holmes@gilmartinir.com |
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