Bionano Enters Agreements With Institutional Investors For For $30M Registered Direct Offering; Purchase And Sale Of 17,513,136 Shares At $0.571/Share
Portfolio Pulse from Benzinga Newsdesk
Bionano Genomics has entered into agreements with institutional investors for a $30 million registered direct offering. The company will sell 17,513,136 shares at $0.571 per share.
July 05, 2024 | 3:01 pm
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Bionano Genomics has entered into agreements with institutional investors for a $30 million registered direct offering, selling 17,513,136 shares at $0.571 per share.
The issuance of new shares at a price below the current market value typically dilutes existing shareholders' equity, which can lead to a short-term decrease in the stock price.
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