Bionano Genomics (BNGO) said Tuesday it agreed to settle and amend its outstanding senior secured convertible debentures due May 26, 2024.
The company said the amendment defers its December 2024 amortization payment, reduces payment due in January 2025 through July to $500,000 a month from $1 million, and increases payments due starting in August to about $1.375 million a month from $1 million until the debt is paid in full.
Under the amendment, Bionano decreased the conversion price to $0.27 from $2 and agreed to issue the debt holders 5 million common shares.
Price: 0.27, Change: -0.01, Percent Change: -4.51
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