Bionano announces amendment to debt financing arrangement to extend cash runway
San diego, feb. 28, 2024 (globe newswire) -- bionano genomics, inc. (“bionano”) (nasdaq: bngo) today announced that is has amended the convertible debt financing the company entered into in october 2023 pursuant to which the company agreed to issue and sell to a certain accredited investor (the “buyer”) (i) in a registered offering by the company (a) $45.0 million aggregate principal amount of senior secured convertible notes due 2025 initially convertible by the buyer into approximately 15.7 million shares of the company's common stock (the “initial registered note”), and (b) warrants to purchase up to 21.7 million shares of the company's common stock, and (ii) in a concurrent private placement, $35.0 million aggregate principal amount of senior secured convertible notes due 2025 initially convertible by the buyer into approximately 12.2 million shares of the company's common stock (the “initial private placement note” and together with the initial registered note, the “notes”). in accordance with the terms of the notes, the buyer has, prior to this date, converted $10.0 million of the principal amount of the initial registered note and the company redeemed $18.0 million of the principal of the initial private placement note.
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