Bionano Genomics, Inc. announced that it expects to receive $35 million in funding
October 10, 2023
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Bionano Genomics, Inc. entered into a securities purchase agreement with High Trail Special Situations LLC for issuance of senior secured convertible notes due 2025 for gross proceeds of $35 million on October 11, 2023. The notes will be convertible into 12,221,738 shares. The notes will not bear regular interest and will mature on September 1, 2025, unless earlier repurchased, redeemed or converted. The notes will be sold at an issue price of 100% of their principal amount, and when it 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 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, at the repayment price, plus any accrued and unpaid default interest thereon. The transaction is expected to close on October 13, 2023, subject to customary closing conditions.The investors in PIPEs were funds managed by Hight Trail Capital LP.Latham & Watkins LLP acted as counsle to the investor.
The company has received $35 million pursuant to Regulation D. The transaction will include participation from 1 investor.
Bionano Genomics, Inc. is a genomics company. The Company offers optical genome mapping (OGM) solutions for applications across basic, translational and clinical research. Through Lineagen, Inc., the Company also provides diagnostic testing for patients with clinical presentations consistent with autism spectrum disorder and other neurodevelopmental disabilities. It also offers a platform-agnostic software solution, which integrates sequencing and microarray data designed to provide analysis, visualization, interpretation and reporting of copy number variants, single-nucleotide variants, and absence of heterozygosity across the genome in one consolidated view. The Company additionally offers nucleic acid extraction and purification solutions using proprietary isotachophoresis (ITP) technology. The Company markets and sells OGM systems, including the Saphyr system, which delivers OGM data to enable ultra-sensitive and ultra-specific detection of all classes of structural variation (SV).
BIONANO GENOMICS, INC. 
