Business
BioNexus Gene Lab Corp. Announces Closing of $5.75 Million Public Offering and Full Exercise of Over-Allotment Option and Uplisting to the Nasdaq Capital Market
KUALA LUMPUR, Malaysia, July 24, 2023 (GLOBE NEWSWIRE) -- BioNexus Gene Lab Corp. (“BioNexus” or the “Company”) (Nasdaq: BGLC), an emerging company in the
About this update from Bionexus Gene Lab Corp
[{"type":"text","content":"KUALA LUMPUR, Malaysia, July 24, 2023 (GLOBE NEWSWIRE) -- BioNexus Gene Lab Corp. (“BioNexus” or the “Company”) (Nasdaq: BGLC), an emerging company in the business of selling chemical raw materials in the Southeast Asia region and the development of safe, effective, and non-invasive liquid biopsy tests for early diagnosis and personalized health management, today announced the closing of an underwritten public offering (the “Offering”) of 1,437,500 shares of common stock, including 187,500 shares issued pursuant to the full exercise by the underwriter of its over-allotment option. The Offering was priced at $4.00 per share for total gross proceeds of $5.75 million before deducting underwriting discounts and commissions and offering expense. BioNexus’ common stock began trading on the NASDAQ Capital Market under the symbol “BGLC” on July 20, 2023. Network 1 Financial Securities, Inc. acted as the sole book-running manager for the Offering. Ortoli Rosenstadt LLP is acting as U.S. counsel to BioNexus, and VCL Law LLP acted as counsel to the underwriter with respect to the Offering. A registration statement on Form S-1, as amended (File No. 333-269753) relating to the Offering was declared effective by the U. S. Securities and Exchange Commission on July 19, 2023. The Offering was made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus related to the Offering may be obtained from Network 1 Financial Securities, Inc., 2 Bridge Avenue, Suite 241, Red Bank, New Jersey 07701; Attention: Keith Testaverde, email [email protected] or by calling +1 (800) 886-7007. Before you invest, you should read the final prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities have and will be made in accordance with the registration requirements of the Securities Act of 1933, ...