Bionano Genomics to acquire Purigen Biosystems for up to $64M; adds ITP technology for OGM workflow

Bionano Genomics, Inc.

Upfront cash consideration of $32M, with up to an additional $32M tied to milestones.
Acquisition adds Purigen's Ionic Purification System and proprietary ITP technology to Bionano's OGM portfolio.
Expected to close on or before December 8, 2022.
Also amended inducement plan, increasing reserved shares from 3.1M to 4.1M.
Conference call and webcast on November 29 at 8:30 a.m. ET to discuss transaction.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Bionano Genomics, Inc. entered into Agreement and Plan of Merger with Purigen Biosystems, Inc. valued at approximately $32.0 million in cash, with additional consideration of up to $32.0 million in cash (effective 2022-11-23).

Action: entry
Agreement: merger
Counterparty: Purigen Biosystems, Inc.
Value: approximately $32.0 million in cash, with additional consideration of up to $32.0 million in cash
Effective: 2022-11-23

Exact text from the filing

On November 23, 2022, Bionano Genomics, Inc., a Delaware corporation (the “Company”), Mazdan Merger Sub, Inc., a Delaware corporation (“Merger Sub”), Purigen Biosystems, Inc., a Delaware corporation (“Purigen”), and Shareholder Representative Services LLC, a Colorado limited liability company, solely in its capacity as the securityholders’ representative (“Securityholders’ Representative”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which the Company agreed to acquire Purigen.

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Bionano Genomics, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-22-043313

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