Bionano Genomics Secures Funding Through Public Offering
Bionano Genomics Secures Funding Through Public Offering
Bionano Genomics, Inc. has recently completed a public offering, successfully pricing an aggregate of 5 million shares of its common stock, along with Series E and Series F warrants, aimed at raising funds to enhance its operations. This offering presents a significant opportunity for the company to strengthen its financial position and continue its mission in genome analysis.
Details of the Offering
The public offering was priced at $2.00 per share, with warrants to purchase additional shares included in the offering package. The Series E warrants are set to expire five years from their issuance, while the Series F warrants have a shorter duration of eighteen months. The expected gross proceeds from this offering amount to approximately $10 million, allowing Bionano to expedite its growth and innovation plans.
Role of H.C. Wainwright & Co.
H.C. Wainwright & Co. served as the exclusive placement agent for the offering, providing invaluable expertise and support throughout the process. Their involvement underpins the professional guidance available to companies embarking on similar capital-raising strategies.
Usage of Proceeds
The funds gained from this offering are earmarked for working capital and general corporate purposes. This strategic allocation of resources will enable Bionano to invest in its technological advancements, aiming to expand its footprint in genetic analysis and diagnostics.
About Bionano Genomics
Bionano Genomics is at the forefront of genomic solutions, specializing in optical genome mapping (OGM). The company aims to transform genome analysis through innovative technology that enhances the understanding of genetic variants and diseases. Their diagnostic services and software are designed to support researchers and clinicians in revealing critical insights in biology and medicine.
Innovative Solutions Offered by Bionano
Among the offerings, Bionano provides an industry-leading software solution for genome analysis that is platform-agnostic, ensuring broad accessibility for various research applications. They also offer nucleic acid extraction and purification solutions, leveraging proprietary isotachophoresis technology to enhance research efficiency.
Company Contact Information
For further inquiries, Erik Holmlin, the CEO of Bionano Genomics, can be reached directly at +1 (858) 888-7610 or via email at eholmlin@bionano.com.
Frequently Asked Questions
What was the total funding amount from the public offering?
The public offering raised approximately $10 million in gross proceeds.
Who acted as the placement agent for the offering?
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
What will the proceeds from the offering be used for?
The funds will be used for working capital and general corporate purposes.
What are the warrants included in the offering?
The offering includes Series E warrants expiring in five years and Series F warrants expiring in eighteen months.
How does Bionano Genomics impact genomic research?
Bionano Genomics provides innovative solutions for genome analysis, helping researchers and clinicians gain insights into complex biological questions.
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