Filed Pursuant to Rule 424(b)(3)
Registration No. 333-284124
Prospectus
Up to 50,555,556 Shares of Common Stock
In May 2024, we issued and sold pursuant to a Securities Purchase Agreement, dated May 24, 2024, with certain accredited investors (the “Selling Securityholders”) in a private placement, 2,250,000 shares (the “Upfront Shares”) of our common stock, $0.0001 par value per share (“common stock”), and $20.0 million aggregate principal amount of senior secured convertible debentures due May 24, 2026 (the “Debentures”) initially convertible into 10,000,000 shares of our common stock. In June 2024, we registered for resale by the Selling Securityholders up to 12,250,000 shares of our common stock comprising (i) up to 2,250,000 Upfront Shares and (ii) up to 10,000,000 shares of common stock issuable upon conversion of the Debentures (the “Initial Conversion Shares”).
In December 2024, we entered into a Settlement Agreement and First Amendment to Debentures (the “Amendment”) with the Selling Securityholders to amend certain terms of the Debentures, including certain repayment terms and an adjustment to the price at which we may convert outstanding cash principal under the Debentures into shares of common stock (the “Conversion Price”). As a result of this Conversion Price adjustment, the remaining outstanding aggregate principal amount of the Debentures will be convertible into an additional 45,555,556 shares of common stock (the “Conversion Shares”). As consideration for, among other things, the amendment to the repayment terms of the Debentures pursuant to the Amendment, we have issued to the Selling Securityholders in a private placement (the “Private Placement”) 5,000,000 shares of common stock (the “Private Placement Shares” and together with the Conversion Shares, the “Shares”). This prospectus relates to the resale by the Selling Securityholders of up to 50,555,556 shares of common stock, comprising (i) up to 45,555,556 Conversion Shares and (ii) the 5,000,000 Private Placement Shares. We will not receive any proceeds from the resale by the Selling Securityholder of the Shares described in this prospectus.
Our registration of the Shares covered by this prospectus does not mean that the Selling Securityholders will offer or sell any of the Shares. See the section entitled “Plan of Distribution” for additional information about how the Selling Securityholders may sell or otherwise dispose the Shares. See the section entitled “Selling Securityholders” for additional information regarding the Selling Securityholders.
Our common stock is listed on The Nasdaq Capital Market under the symbol “BNGO.” On January 10, 2025, the closing price of our common stock was $0.23 per share.
We are a “smaller reporting company” as defined under the federal securities laws and, as such, have elected to comply with certain reduced reporting requirements for this prospectus and may elect to do so in future filings.
Investing in our securities involves a high degree of risk. You should review carefully the risks and uncertainties described under the heading “Risk Factors” on page 4 of this prospectus as well as those contained in any applicable prospectus supplement and any related free writing prospectus, and under similar headings in the other documents that are incorporated by reference into this prospectus.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The date of this prospectus is January 10, 2025