The information contained in this preliminary prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.
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PRELIMINARY PROSPECTUS | | | SUBJECT TO COMPLETION, DATED , 2025 |
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Up to Shares of Common Stock
Up to Pre-Funded Warrants to Purchase up to Shares of Common Stock
Up to Series E Warrants to Purchase up to Shares of Common Stock
Up to Series F Warrants to Purchase up to Shares of Common Stock
Up to Shares of Common Stock Issuable Upon Exercise of the
Pre-Funded Warrants, Series E Warrants and Series F Warrants
We are offering up to shares of common stock, par value $0.0001 per share (“common stock”), together with Series E warrants to purchase up to shares of common stock (the “Series E Warrants”) and Series F warrants to purchase up to shares of common stock (the “Series F Warrants”, and together with the Series E Warrants, the “Warrants”) at an assumed combined public offering price of $ per share and accompanying Warrants, which is equal to the closing price per share of our common stock on the Nasdaq Capital Market on , 2025 pursuant to this prospectus. The shares of common stock and Warrants will be separately issued, but must be purchased together in this offering. Each share of common stock is being sold together with one Series E Warrant to purchase one share of common stock and one Series F Warrant to purchase one share of common stock. Each Warrant will have an assumed exercise price of $ per share (representing 100% of the combined price at which a share of common stock and accompanying Warrants are sold to the public in this offering) and will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares upon exercise of the Warrants (“Warrant Stockholder Approval”); provided, however, if the Pricing Conditions (as defined below) are met, the Warrant Stockholder Approval will not be required and the Warrants will be exercisable upon issuance (the “Initial Exercise Date”). The Series E Warrants will expire on the -year anniversary of the Initial Exercise Date. The Series F Warrants will expire on the -month anniversary of the Initial Exercise Date. As used herein, “Pricing Conditions” means that the combined public offering price per share and accompanying Warrants is such that Warrant Stockholder Approval is not required under the rules of The Nasdaq Stock Market LLC (“Nasdaq”) because either (i) the offering is an at-the-market offering under Nasdaq rules and such price equals or exceeds the sum of (a) the applicable “Minimum Price” per share under Nasdaq Rule 5635(d) plus (b) $0.125 per whole share of common stock underlying the Warrants or (ii) the offering is a discounted offering where the pricing and discount (including attributing a value of $0.125 per whole share underlying the Warrants) meet the pricing requirements under Nasdaq’s rules.
We are also offering up to pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to an aggregate of shares of common stock to those purchasers whose purchase of shares of common stock in this offering would result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock following the consummation of this offering in lieu of the shares of our common stock that would result in ownership in excess of 4.99% (or, at the election of the purchaser, 9.99%). Each Pre-Funded Warrant will be exercisable for one share of common stock at an exercise price of $0.0001 per share. Each Pre-Funded Warrant is being issued together with the same Warrants described above being issued with each share of common stock. The assumed combined public offering price for each such Pre-Funded Warrant, together with the accompanying Warrants, is $ , which is equal to the closing price of our common stock on the Nasdaq Capital Market on , 2025, less the $0.0001 per share exercise price of each such Pre-Funded Warrant. Each Pre-Funded Warrant will be exercisable upon issuance and will expire when exercised in full. The Pre-Funded Warrants and accompanying Warrants are immediately separable and will be issued separately in this offering, but must be purchased together in this offering. For each Pre-Funded Warrant we sell, the number of shares of common stock we are offering will be decreased on a one-for-one basis. This offering also relates to the shares of common stock issuable upon the exercise of the Warrants and the Pre-Funded Warrants.
This offering will terminate on , unless we decide to terminate the offering (which we may do at any time in our discretion) prior to that date. We will have one closing for all the securities purchased in this offering. The combined public offering price per share (or Pre-Funded Warrant) and accompanying Warrants will be fixed for the duration of this offering.
We have engaged (the “placement agent”) to act as our exclusive placement agent in connection with this offering. The placement agent has agreed to use its reasonable best efforts to arrange for the sale of the securities offered by this prospectus. The placement agent is not purchasing or selling any of the securities we are offering, and the placement agent is not required to arrange the purchase or sale of any specific number or dollar amount of securities. We have agreed to pay to the placement agent the placement agent fees set forth in the table below, which assumes that we sell all of the securities offered by this prospectus. There is no arrangement for funds to be received in escrow, trust or similar arrangement. There is no minimum offering requirement. We will bear all costs associated with the offering. See “Plan of Distribution” on page
20 of this prospectus for more information regarding these arrangements.
Our common stock is currently listed on the Nasdaq Capital Market under the symbol “BNGO.” On , 2025, the closing price of our common stock on the Nasdaq Capital Market was $ per share. All share, Warrant and Pre-Funded Warrant numbers are based on an assumed combined public offering price of $ per share and accompanying Warrants and $ per Pre-Funded Warrant and accompanying Warrants. There is no established public trading market for the Pre-Funded Warrants or Warrants that are part of this offering, and we do not expect a market to develop. We do not intend to apply for listing of the Pre-Funded Warrants or Warrants on any securities exchange or other nationally recognized trading system. Without an active trading market, the liquidity of the Pre-Funded Warrants and Warrants will be limited.
Certain information in this prospectus is based on an assumed combined public offering price of $ per share and accompanying Warrants, the last reported sale price of our common stock on the Nasdaq Capital Market on , 2025 (or assumed combined public offering price of $ per Pre-Funded Warrant and accompanying Warrants). The actual combined public offering price per share and accompanying Warrants and the actual combined public offering price per Pre-Funded Warrant and accompanying Warrants, as the case may be, will be determined between us, the placement agent and investors in this offering based on market conditions at the time of pricing and may be at a discount to the current market price of our common stock. Therefore, the recent market price used throughout this prospectus may not be indicative of the final offering price.
You should read this prospectus, together with additional information described under the headings “Information Incorporated by Reference” and “Where You Can Find More Information,” carefully before you invest in any of our securities.
We are a “smaller reporting company” as defined under the federal securities laws and, as such, have elected to comply with certain reduced public company reporting requirements for this prospectus and may elect to do so in future filings. Investing in our securities involves a high degree of risk. See “Risk Factors” beginning on page
6 of this prospectus for a discussion of information that should be considered in connection with an investment in our securities. See “Prospectus Summary — Implications of Being a Smaller Reporting Company.”
Investing in our securities involves a high degree of risk. See the section titled “Risk Factors” beginning on page
6 of this prospectus and in the documents incorporated by reference into this prospectus for a discussion of risks that should be considered in connection with an investment in our securities.
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Combined public offering price | | | $ | | | $ | | | $ |
Placement agent fees(1) | | | $ | | | $ | | | $ |
Proceeds to us, before expenses(2) | | | $ | | | $ | | | $ |
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(1)
| We have agreed to pay the placement agent a cash fee equal to %. We have also agreed to pay the placement agent a management fee of % of the aggregate gross proceeds raised in this offering and to reimburse the placement agent for certain of its offering related expenses, including reimbursement for non-accountable expenses in an amount up to $ , legal fees and expenses and other out-of-pocket expenses in the amount of up to $ , and for its clearing expenses in the amount of $ . For a description of compensation to be received by the placement agent, see “Plan of Distribution” for more information. |
(2)
| Because there is no minimum number of securities or amount of proceeds required as a condition to closing in this offering, the actual public offering amount, placement agent fees, and proceeds to us, if any, are not presently determinable and may be substantially less than the total maximum offering amounts set forth above. The amount of the proceeds to us presented in this table does not give effect to any exercise of the Warrants or the Pre-Funded Warrants offered hereby. For more information, see “Plan of Distribution.” |
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.
Delivery of the securities offered hereby to the purchasers is expected to be made on or about , 2025, subject to the satisfaction of customary closing conditions.
The date of this prospectus is , 2025.