Bionano retires $20M secured convertible debentures
Bionano Genomics has fully repaid its Senior Secured Convertible Debentures, removing all secured debt from its balance sheet.
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Rhea-AI Filing Summary
Bionano Genomics has fully repaid its Senior Secured Convertible Debentures, removing all secured debt from its balance sheet. The company used cash on hand to retire and cancel debentures with an aggregate face value of $20,000,000, originally issued in May 2024 and repaid at their scheduled maturity on May 26, 2026.
All liens on Bionano’s assets and the associated restrictive covenants have been terminated, which the company says provides meaningfully greater financial and operational flexibility. Management describes the debt retirement as a significant milestone that simplifies the financial profile and allows more focus on growing adoption of its optical genome mapping solutions and executing its commercial strategy.
Positive
- Elimination of $20M secured debt and liens: Bionano used cash on hand to retire Senior Secured Convertible Debentures with an aggregate face value of $20,000,000, leaving the company with no outstanding secured debt obligations and releasing all related liens and restrictive covenants.
Negative
- None.
Insights
Retiring the $20M secured debentures removes liens and boosts flexibility.
Bionano repaid in full Senior Secured Convertible Debentures with an aggregate face value of $20,000,000, originally issued in May 2024 and maturing on May 26, 2026. The repayment used cash on hand and completes a debt restructuring begun in May 2024.
With this step, Bionano now carries no outstanding secured debt obligations, and all liens and restrictive covenants tied to the debentures are extinguished. That can simplify financing arrangements and day-to-day operations, though it also reflects deployment of existing cash resources.
Management characterizes the move as a significant milestone that strengthens and simplifies the business and enables more focus on commercial execution and optical genome mapping adoption. Future filings will show how the elimination of secured debt interacts with the company’s disclosed need for additional financing and its broader path toward improved margins and potential profitability.
8-K Event Classification
Key Figures
Key Terms
Senior Secured Convertible Debentures financial
liens financial
restrictive covenants financial
optical genome mapping technical
going concern financial
Category I CPT codes medical
FAQ
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What did Bionano Genomics (BNGO) announce regarding its Senior Secured Convertible Debentures?
How much debt did Bionano Genomics (BNGO) repay and when were the debentures issued?
What is Bionano Genomics’ secured debt position after this 8-K announcement?
Why does Bionano Genomics view the debenture retirement as significant?
How does this debt repayment relate to Bionano Genomics’ broader restructuring efforts?
What business focus did Bionano Genomics emphasize after retiring the debentures?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On May 28, 2026, Bionano Genomics, Inc. (the “Company”) announced that it repaid in full all outstanding Senior Secured Convertible Debentures (the “Debentures”) on May 26, 2026, the scheduled maturity date. Any liens on the Company’s assets, and any covenants under the terms of the agreements governing the Debentures, were also terminated in accordance with their terms. On May 28, 2026, the Company issued a press release related to the extinguishment of the Debentures, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
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Press release issued May 28, 2026, announcing full retirement of outstanding senior secured convertible debentures. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Bionano Genomics, Inc. |
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Date: May 28, 2026 |
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/s/ Albert A. Luderer, Ph.D. |
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Albert A. Luderer, Ph.D. |
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Interim Chief Executive Officer
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Exhibit 99.1
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Bionano Announces Full Retirement of Outstanding Senior Secured Convertible Debentures
SAN DIEGO, May 28, 2026 (GLOBE NEWSWIRE) - Bionano Genomics, Inc. (Nasdaq: BNGO) today announced that it has fully retired and cancelled all outstanding Senior Secured Convertible Debentures (the “Debentures”). The Company used cash on hand to retire the Debentures, which were originally issued in May 2024 in the aggregate face value of $20,000,000.
The retirement of the Debentures completes the debt restructuring the Company undertook in May 2024 and results in Bionano carrying no outstanding secured debt obligations. With the retirement, all liens on the Company’s assets are released and the associated restrictive covenants are extinguished, providing the Company with meaningfully greater financial and operational flexibility going forward.
“Retiring this debt is a significant milestone for Bionano and a direct reflection of the progress we have made in strengthening and simplifying the business,” said Al Luderer, Ph.D., chairman and interim chief executive officer of Bionano. “This simplifies our financial profile considerably, removes the constraints that came with the secured debt, and allows us to focus our capital on what matters most - continuing to grow adoption of optical genome mapping and executing on our commercial strategy.”
Additional information regarding the retirement of the Debentures will be set forth in a Current Report on Form 8-K to be filed by the Company with the SEC.
About Bionano Genomics
Bionano is a provider of genome analysis solutions that can enable researchers and clinicians to reveal answers to challenging questions in biology and medicine. The Company’s mission is to transform the way the world sees the genome through optical genome mapping (OGM) solutions, diagnostic services and software. The Company offers OGM solutions for applications across basic, translational and clinical research. The Company also offers an industry-leading, platform-agnostic genome analysis software solution, and nucleic acid extraction and purification solutions using proprietary isotachophoresis (ITP) technology. Through its Lineagen, Inc. d/b/a Bionano Laboratories business, the Company also offers OGM-based diagnostic testing services.
For more information, visit www.bionano.com or www.bionanolaboratories.com.
Bionano’s products are for research use only and not for use in diagnostic procedures.
Forward-Looking Statements of Bionano Genomics
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations or financial condition, business strategy and plans, and objectives of management for future operations, are forward-looking statements. Words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) convey uncertainty of future events or outcomes and are intended to identify forward-looking statements. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: our expectations regarding market adoption of our products; our commercial prospects and future financial and operating results; and our ability to meet our stated goals and commercial opportunities. Each of these forward-looking statements involves risks and uncertainties. Accordingly, investors and prospective investors are cautioned not to place undue reliance on these forward-looking statements as they involve inherent risk and uncertainty (both general and specific) and should note that they are provided as a general guide only and should not be relied on as an indication or guarantee of future performance.
There are a number of important factors that could cause the actual results to differ materially from those expressed in any forward-looking statement made by us. These factors include, but are not limited to: our ability to improve our margins, extend our cash runway and reach a potential pathway to profitability; our ability to continue as a going concern as disclosed in our filings with the SEC, which requires us to manage costs and obtain significant additional financing to fund our strategic plans and commercialization efforts; our ability to execute on our strategy and achieve our objectives; the impact and utility of our cost savings initiative and our recent financing; our ability to continue to drive OGM (as defined above) adoption by potential customers for routine use in genomic analysis; the impact, or lack thereof, of Category I CPT codes to accelerate or increase the adoption of OGM; continued research, presentations and publications involving OGM and its utility compared to traditional cytogenetics and our technologies; the impact of our Stratys™ system and VIA™ software to increase throughput and simplify analysis of OGM data; our ability to drive adoption of OGM and our technology solutions; our ability to further deploy new products and applications for our technology platforms; our expectations and beliefs regarding future growth of the business and the markets in which we operate; our ability to consummate any strategic alternatives including the risk that if we fail to obtain additional financing we may seek relief under applicable insolvency laws; the size and growth potential of the markets for our products, and our ability to serve those markets; the rate and degree of market acceptance of our products; our ability to manage the growth of our business and integrate acquired businesses; our ability to expand our commercial organization to address effectively existing and new markets that we intend to target; the impact from future regulatory, judicial, and legislative changes or developments in the U.S. and foreign countries; our ability to compete effectively in a competitive industry; the introduction of competitive technologies or improvements in existing technologies and the success of any such technologies; the performance of our third-party contract sales organizations, suppliers and manufacturers; our ability to attract and retain key scientific or management personnel;
the accuracy of our estimates regarding expenses, future revenues, reimbursement rates, capital requirements and needs for additional financing; the impact of adverse geopolitical and macroeconomic developments, such as recent and future bank failures, ongoing international conflicts, and related sanctions, regional or global pandemics, inflation, tariffs, increased cost of goods, supply chain issues, and global financial market conditions; on our business and operations, as well as the business or operations of our suppliers, customers, manufacturers, research partners and other third parties with whom we conduct business and our expectations with respect to the duration of such impacts and the resulting effects on our business; our ability to realize the anticipated benefits and synergies of our prior and any future acquisitions or other strategic transactions; our ability to attract collaborators and strategic partnerships; and the risks and uncertainties associated with our business and financial condition in general, including the risks and uncertainties described in our filings with the Securities and Exchange Commission (“SEC”), including, without limitation, our Annual Report on Form 10-K for the year ended December 31, 2025, any subsequently filed Quarterly Reports on Form 10-Q and in other filings subsequently made by us with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise, except as may be required by law.
CONTACT
Investor Relations:
Webb Campbell
Gilmartin Group
+1 (415) 520-5817
IR@bionano.com