09:42 AM EDT, 05/28/2024 (MT Newswires) -- Bionano Genomics ( BNGO ) said Tuesday that it completed a private placement of senior secured convertible debentures due May 24, 2026 for total proceeds of $18 million.

The company said proceeds will be used to retire its October 2023 convertible debt financing, in line with its strategy to enhance its capital structure and liquidity while continuing its review of strategic alternatives to maximize shareholder value.

Shares of Bionano Genomics ( BNGO ) were up more than 1% in recent trading.

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