BioNano Genomics Inc (BNGO) announced it has plans to offer and sell, subject to market conditions, shares of its common stock in an underwritten public offering. There is no assurance if the public offering can be or will be completed. Also, there is no precedence if the terms of the offering are accepted. The biotech firm expects to grant the offerees a 30-day option to buy up to an additional 15% of the shares of common stock offered to cover any over-allotments. All shared will be only sold by Binano.
Oppenheimer & Co will run the sole administrator for this offering. Considered being one of the oldest multinational firms. BTIG, LLC will take the lead as manager and Ladenburg Thalmann & CO with Maxim Group LLC will act as co-managers.
This news does not make up an offer to sell or any kind of solicitation of an offer to buy these said securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, sale, and solicitation would be unlawful.
The sole reason for this public offering depends upon a recent publication by Anderson Cancer Center that clearly shows that Binano’s Saphyr System can reduce the time for the result, which in return will help healthcare workers follow treatment for patients suffering from Myelodysplastic Syndrome.
This fast detection of solid tumors is a breakthrough for healthcare specialists all over the world, which can lessen overhead costs down the road and fast treatment will be provided to the patients.