Bionano Receives $18M In Private Placement Of Senior Secured Notes In Debt Restructuring That Improves Balance Sheet
Portfolio Pulse from Benzinga Newsdesk
Bionano Genomics Inc. (NASDAQ:BNGO) has completed a private placement of senior secured convertible debentures, raising $18 million. This will allow the company to retire previous convertible debt, improving its balance sheet.
May 28, 2024 | 12:03 pm
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Bionano Genomics Inc. has raised $18 million through a private placement of senior secured convertible debentures, which will be used to retire previous convertible debt. This move improves the company's balance sheet.
The $18 million raised will be used to retire previous convertible debt, which strengthens Bionano's balance sheet. This is likely to be viewed positively by investors, potentially leading to a short-term increase in the stock price.
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