BETA Technologies launches IPO of 25 million shares priced $27-$33
SAN DIEGO - Bionano Genomics, Inc. (NASDAQ:BNGO) announced today the completion of its previously announced public offering, raising approximately $10 million in gross proceeds. According to InvestingPro data, this funding comes at a crucial time as the company has been quickly burning through cash, with a negative free cash flow of $26 million in the last twelve months.
The offering consisted of 5,000,000 shares of common stock (or common stock equivalents), along with Series E and Series F warrants to purchase up to an additional 5,000,000 shares each. The combined public offering price was $2.00 per share and accompanying warrants.
The Series E warrants will expire after five years, while the Series F warrants have an eighteen-month term. Both warrant series have an exercise price of $2.00 per share and are immediately exercisable. If fully exercised on a cash basis, the warrants could potentially generate an additional $20 million in gross proceeds for the company.
H.C. Wainwright & Co. served as the exclusive placement agent for the offering. Bionano intends to use the net proceeds for working capital and general corporate purposes.
The securities were offered through a registration statement on Form S-1 that was declared effective by the Securities and Exchange Commission on September 16, 2025.
Bionano Genomics provides genome analysis solutions for researchers and clinicians, specializing in optical genome mapping (OGM) solutions, diagnostic services, and software. The company’s products are for research use only and not for diagnostic procedures, according to information provided in the company’s press release statement. InvestingPro analysis reveals the company generated $27.4 million in revenue over the last twelve months, with a concerning gross profit margin of just 5%. For deeper insights into BNGO’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Bionano Genomics reported its second-quarter 2025 financial results, showing a total revenue of $6.7 million, which marks a 13% decline compared to the same period last year. Despite this decline, the company experienced sequential growth from the first quarter’s revenue of $6.5 million. The gross margin improved to over 50% during the quarter, which was noted as encouraging by analysts at BTIG. Additionally, Bionano Laboratories, a subsidiary of Bionano Genomics, announced that the Centers for Medicare & Medicaid Services set a preliminary payment rate of $1,263.53 for a new genome mapping test. This rate is higher than comparable procedures, indicating potential future revenue growth. Furthermore, H.C. Wainwright raised its price target for Bionano Genomics to $11.00 from $10.00, maintaining a Buy rating based on the company’s financial performance. BTIG reiterated a Neutral rating, emphasizing the company’s improved gross margins and increased instrument placement outlook. These developments reflect a mix of challenges and opportunities for Bionano Genomics as it navigates the current market landscape.
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