Bionano Retires $20 Million Secured Convertible Debentures, Removes All Liens
BNGO•Bionano Genomics used cash on hand to fully retire and cancel its $20 million senior secured convertible debentures issued in May 2024, eliminating all secured debt obligations and releasing all liens on its assets. This removal extinguished restrictive covenants and boosts the company’s financial and operational flexibility.
1. Debt Retirement Completed
Bionano Genomics has fully retired and cancelled its $20 million senior secured convertible debentures originally issued in May 2024, using cash on hand to eliminate all secured debt obligations and extinguish related liens and covenants.
2. Financial Profile Simplified
Removing these secured obligations releases restrictive covenants, reduces leverage and interest risk, and strengthens the company’s balance sheet by eliminating collateralized debt from its capital structure.
3. Strategic Flexibility Enhanced
With no outstanding secured debt, Bionano can allocate capital toward expanding optical genome mapping adoption, advancing commercial strategies and research initiatives without debt-related constraints.
