BIONANO GENOMICS ANNOUNCES PRICING OF $18 MILLION UNDERWRITTEN PUBLIC OFFERING

SAN DIEGO, April 02, 2020 (GLOBE NEWSWIRE) -- BIONANO GENOMICS, INC. (NASDAQ: BNGO), a genome analysis company that provides tools and services based on its Saphyr® system to scientists and clinicians conducting genetic research and patient testing, today announced the pricing of an underwritten public offering of 54,546,000 shares of its common stock (or pre-funded warrants to purchase common stock in lieu thereof) and common warrants to purchase up to an aggregate of 54,546,000 shares of common stock. Each share of common stock and, as applicable, each pre-funded warrant is being sold together with a common warrant to purchase one share of common stock at a combined effective price to the public of $0.33 per share and accompanying common warrant. For each pre-funded warrant Bionano sells, the number of shares of common stock Bionano is offering will be decreased on a one-for-one basis.

The common warrants will be immediately exercisable at a price of $0.33 per share of common stock and will expire five years from the date of issuance. The shares of common stock or the pre-funded warrants, and the accompanying common warrants, can only be purchased together in the offering but will be issued separately and will be immediately separable upon issuance. The offering is expected to close on or about April 6, 2020, subject to customary closing conditions. 

Oppenheimer & Co. Inc. is acting as the sole book-running manager for the offering. Roth Capital Partners is acting as the lead manager, and Maxim Group LLC is acting as the as co-lead manager.

The gross proceeds to Bionano from this offering are expected to be approximately $18 million, before deducting underwriting discounts and commissions and other offering expenses payable by Bionano, and excluding any proceeds that may be received upon exercise of the common warrants. Bionano anticipates using the net proceeds from the offering for general corporate purposes, including working capital, sales and marketing activities, general and administrative matters and capital expenditures.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (SEC) on April 1, 2020. The offering is being made only by means of a prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering, when available, may be obtained for free by visiting the SEC’s website at http://www.sec.gov, or alternatively from the offices of Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, New York 10004, by telephone at 212-667-8055, or by email at EquityProspectus@opco.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Bionano Genomics

Bionano is a genome analysis company that provides tools and services based on its Saphyr® system to scientists and clinicians conducting genetic research and patient testing. The company developed the Saphyr system, a platform for ultra-sensitive and ultra-specific structural variation detection, that enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets and to streamline the evaluation of changes in chromosomes, which is known as cytogenetics. The company’s commercial offering includes the Saphyr system, which is comprised of an instrument, chip consumables, reagents and a suite of data analysis tools, and genome analysis services to provide access to data generated by the Saphyr system for researchers who prefer not to adopt the Saphyr system in their labs. The company is located in San Diego, California.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, without limitation, statements about Bionano’s expectations regarding the completion, timing and size of the public offering and the anticipated use of net proceeds therefrom. Words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) convey uncertainty of future events or outcomes and are intended to identify these forward-looking statements, though not all forward-looking statements necessarily contain these identifying words. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the offering, as well as risks and uncertainties associated with Bionano’s business and financial condition in general, including the risks and uncertainties described in Bionano’s Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the SEC, and Bionano’s subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Bionano undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Contacts

Company Contact:
R. Erik Holmlin, CEO
Bionano Genomics, Inc.
+1 (858) 888-7600
eholmlin@bionanogenomics.com

Investor Relations Contact:
Ashley R. Robinson
LifeSci Advisors, LLC
+1 (617) 430-7577
arr@lifesciadvisors.com

Media Contact:
Kirsten Thomas
The Ruth Group
+1 (508) 280-6592
kthomas@theruthgroup.com

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