Bionexus Gene Lab files $100M shelf registration, establishes $20M ATM program

BioNexus Gene Lab (BGLC) filed a registration statement on Form S-3 with the U.S. Securities and Exchange Commission 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 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 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.