Business
Bionano Announces Full Retirement of Outstanding Senior Secured Convertible Debentures
Bionano Announces Full Retirement of Outstanding Senior Secured Convertible Debentures
About this update from Bionano Genomics, Inc.
[{"type":"text","content":"SAN DIEGO, May 28, 2026 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (Nasdaq: BNGO) today announced that it has fully retired and cancelled all outstanding Senior Secured Convertible Debentures (the \"Debentures\"). The Company used cash on hand to retire the Debentures, which were originally issued in May 2024 in the aggregate face value of $20,000,000. The retirement of the Debentures completes the debt restructuring the Company undertook in May 2024 and results in Bionano carrying no outstanding secured debt obligations. With the retirement, all liens on the Company's assets are released and the associated restrictive covenants are extinguished, providing the Company with meaningfully greater financial and operational flexibility going forward. \"Retiring this debt is a significant milestone for Bionano and a direct reflection of the progress we have made in strengthening and simplifying the business,\" said Al Luderer, Ph.D., chairman and interim chief executive officer of Bionano. \"This simplifies our financial profile considerably, removes the constraints that came with the secured debt, and allows us to focus our capital on what matters most - continuing to grow adoption of optical genome mapping and executing on our commercial strategy.\" Additional information regarding the retirement of the Debentures will be set forth in a Current Report on Form 8-K to be filed by the Company with the SEC. About Bionano Genomics 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 optical genome mapping (OGM) solutions, diagnostic services and software. The Company offers OGM solutions for applications across basic, translational and clinical research. The Company also offers an industry-leading, platform-agnostic genome analysis software solution, and nucleic acid extraction and purification solutions using proprietary isotachophoresis (ITP) technology. Through its Lineagen, Inc. d/b/a Bionano Laboratories business, the Company also offers OGM-based diagnostic testing services. For more information, visit www.bionano.com or www.bionanolaboratories.com. Bionano’s products are for research use only and not for use in diagnostic procedures. Forward-Loo...