Shares of Bionano Genomics (BNGO) experienced a significant after-hours rebound on Tuesday, soaring 5.06% following a dramatic 38% plunge during regular trading hours. The volatility comes in the wake of the company's announcement of a $10 million public offering, which initially sparked a sell-off among investors.

During the regular trading session, Bionano Genomics saw its stock price tumble to $1.72, hitting a 52-week low of $1.50 at one point. The sharp decline was triggered by the company's pricing of a public offering consisting of 5 million shares, along with Series E and short-term Series F warrants, at a combined public offering price of $2.00 per share. This move, aimed at raising approximately $10 million in gross proceeds, initially spooked investors concerned about potential dilution.

However, the after-hours rally suggests that some investors may view the steep drop as a buying opportunity, reassessing the company's value proposition. Bionano Genomics stated that it intends to use the proceeds from the offering for working capital and general corporate purposes, which could potentially strengthen its financial position. As the market digests this information, it appears that some traders are betting on a potential recovery, driving the stock up in extended trading. The completion of the offering is expected to occur on or about Wednesday, and the market will be watching closely to see if this after-hours momentum can be sustained in the coming trading sessions.