Bionano Genomics, Inc. (BNGO): M&A transaction — Bionano completes acquisition of Purigen Biosystems for $32M cash, plus $32M earnout

Bionano Genomics, Inc.

Closed acquisition of Purigen Biosystems on Nov 30, 2022; upfront cash consideration ~$32M.
Up to additional $32M in cash payable upon achievement of certain milestones.
Purigen survives as a wholly owned subsidiary of Bionano Genomics.
Consideration subject to customary adjustments for cash, debt, transaction expenses, and net working capital.
Post-closing purchase price adjustment mechanism with escrow for potential adjustments.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 1.0

Bionano Genomics, Inc. completed an acquisition involving Purigen Biosystems, Inc. for approximately $32.0 million in cash (closed 2022-11-30).

Action: acquisition
Counterparty: Purigen Biosystems, Inc.
Consideration: approximately $32.0 million in cash
Closing: 2022-11-30

Exact text from the filing

the surviving corporation of the Merger and a wholly owned subsidiary of the Company. Pursuant to the Merger, the Company paid at closing upfront consideration of approximately $32.0 million in cash. The upfront consideration was subject to adjustment for, among other things, cash, unpaid indebtedness, unpaid transaction expenses and net working capital relative to

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Source: SEC EDGAR

accession 0001140361-22-043729

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