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BioNexus Gene Lab Corp. (NASDAQ:BGLC) ("BioNexus" or the "Company"), a biotechnology company advancing precision diagnostics and gene-based technologies across Asia and the U.S., today announced that it has filed a registration statement on Form S-3 with the U.S. Securities and Exchange Commission ("SEC") to register up to $100 million of securities that may be offered from time to time.
Under this shelf, the Company has entered into an Equity Distribution Agreement with Maxim Group LLC, pursuant to which it may, subject to the effectiveness of the registration statement, offer and sell up to $20 million of its common stock through an at-the-market ("ATM") program.
The Company believes that the shelf registration and ATM facility provide BioNexus with financial flexibility and position the Company to continue progressing toward near-term growth initiatives, including those reflected in its recently announced executed term sheets with Fidelion Diagnostics Pte Ltd. (VitaGuard MRD) and BirchBioMed Inc. The Company believes that these initiatives align with BioNexus' strategy to expand its footprint in precision oncology, regenerative medicine, and contract biologics manufacturing through its subsidiaries MRNA Scientific Sdn. Bhd. and Chemrex Corporation Sdn. Bhd.
Posted In: BGLC
