secwatch.observer — SEC 8-K summary
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Issuer:     Bionano Genomics, Inc. (BNGO)
CIK:        0001411690
Form:       8-K
Filed at:   2024-05-28T23:59:59+00:00
Accession:  0001140361-24-027553
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 1.02, 2.03, 3.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bionano raises $18M via convertible debt, retires High Trail Note, warns of going concern
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- Issued $20M principal senior secured convertible debentures (11% interest, due 2026) plus 2.25M shares for $18M gross proceeds.
- Used ~$17.6M to redeem High Trail Note (outstanding $15.337M at 115% redemption, plus $2.19M retirement fee); Note cancelled.
- Debentures convertible at $2.00/share; Company must maintain $11M blocked account; monthly redemption up to $1M allowed.
- Cash runway only into Q4 2024; substantial doubt about going concern exists; board formed strategy committee for alternatives.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1411690/000114036124027553/0001140361-24-027553-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1411690/000114036124027553/ef20030067_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-027553

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