Bionano Announces Pricing of $80.0 Million Registered Offering and Concurrent Private Placement of Senior Secured Convertible Notes and Warrants

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[{"type":"text","content":"SAN DIEGO, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (Nasdaq: BNGO) today announced the pricing of (i) $45.0 million aggregate principal amount of senior secured convertible notes due 2025 (the “Registered Notes”) and warrants (the “Registered Warrants”) to purchase 21,660,650 shares of its common stock in a registered offering, and (ii) $35.0 million aggregate principal amount of senior secured convertible notes due 2025 (the “Private Placement Notes” and together with the Registered Notes, the “Notes”) in a concurrent private placement, in each case, to a certain accredited investor (the “Buyer”). Each Registered Warrant has an exercise price of $3.1855 per share and expires five years from the date of issuance. The gross proceeds from the registered offering and concurrent private placement to Bionano are expected to be approximately $80.0 million, before deducting placement agent fees and offering expenses payable by Bionano. The registered offering and the concurrent private placement are each contingent upon the other. The sale of the Notes and the Registered Warrants to the Buyer is expected to close on October 13, 2023, subject to customary closing conditions. Bionano has also granted the Buyer an option to purchase up to an additional $25.0 million aggregate principal amount of senior secured convertible notes due 2025 (the “Additional Notes”) and warrants to purchase up to 6,768,953 shares of common stock in a subsequent private placement on substantially the same terms as the Private Placement Notes and the Registered Warrants, respectively. The Notes will not bear regular interest and will mature on September 1, 2025 (the “Maturity Date”), unless earlier repurchased, redeemed or converted. The Notes will be sold at an issue price of 100% of their principal amount, and when Bionano repays principal of the Notes at maturity pursuant to the terms of the Notes, it will be required to pay 115% of the principal amount repaid (the “Repayment Price”). Holders of the Notes will have the option to partially redeem a portion of the principal amount of the Notes on the first day of each month beginning on November 1, 2023 (a “Partial Redemption Date”), at the Repayment Price, plus any accrued and unpaid default interest thereon. Holders of the Notes will be permitted to convert their Notes into shares of Bionano’s...

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