BioNano Genomics (BNGO) has shared an announcement.
Bionano Genomics, Inc. completed a significant private placement sale on May 24, 2024, raising $18 million through the issuance of common stock and Senior Secured Convertible Debentures. The company utilized the bulk of these proceeds to redeem a prior convertible note and plans to allocate the remainder for general corporate purposes. The securities offered were not registered under the Securities Act, implying that they were sold to accredited investors and cannot be resold without registration or an exemption. With a focus on funding its operations into late 2024, Bionano Genomics continues to explore strategic options to enhance stakeholder value in the face of ongoing operational losses and the need for additional capital.
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