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The firm is offering  24.6 million shares of its common stock and warrants to purchase 24.6 million shares of stocks to financially  support and expand its business.

The Tucson, Arizona-based company previously raised $20 million through a public offering of its shares and a purchase deal with certain investors.

The genetic testing firm is offering approximately 2.3 million shares at $11.25 per share and plans to use the funds for general corporate purposes.

The company said it will use the net proceeds for general corporate purposes and to fund ongoing operations and expansion of its business.

OpGen said it intends to use the proceeds of the offering to complete its acquisition of German molecular diagnostics firm Curetis, among other things.

Shares of firm fell 47 percent on the news it will sell 20.9 million common shares along with warrants to purchase up to the same number of shares.

Bionano also disclosed that it is expecting to report a nearly 18 percent jump in revenues for the third quarter.

If the underwriters exercise their option to purchase the over-allotment in full, total gross proceeds from the offering would be $230 million.

The company said it processed around 200,000 tests in the third quarter, representing approximately 20 percent growth over the year-ago quarter.

The proceeds from the sale will go toward the planned acquisition of Curetis and to support the ongoing submission of its technology to US regulators.

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