12:19 PM EDT, 10/31/2024 (MT Newswires) -- Bionano Genomics ( BNGO ) said Thursday it is offering 9.88 million common shares and series C and series D warrants, each to purchase additional 9.88 million shares, in a registered direct offering for $3 million.

Shares and warrants will be sold separately, with both series having an exercise price of $0.3039 per share, the company said in a regulatory filing.

The series C warrants expire five years after stockholder approval, while the series D warrants expire 18 months after approval, Bionano said.

Bionano plans to use the net proceeds, together with its existing cash and cash equivalents and available-for-sale securities, for general corporate purposes.

Bionano shares fell more than 11% in recent trading.

Price: 0.30, Change: -0.04, Percent Change: -11.30