Bionano Genomics, which is developing the Saphyr system for next-generation genome mapping, announced terms for its IPO on Tuesday.
The San Diego, CA-based company plans to raise $30 million by offering 3.4 million shares at a price range of $8 to $10. Insiders intend to purchase $6 million worth of shares in the offering (20% of deal). At the midpoint of the proposed range, Bionano Genomics would command a fully diluted market value of $108 million.
Bionano Genomics was founded in 2003 and booked $11 million in revenue for the 12 months ended June 30, 2018. It plans to list on the Nasdaq under the symbol BNGO. Roth Capital is the sole bookrunner on the deal. No pricing terms were disclosed.
