BNGO - Why Bionano Genomics Stock Is Down Today
Shares of Bionano Genomics (NASDAQ: BNGO) fell on Wednesday after the genome-analysis company announced the pricing of its public stock offering. As of 12:30 p.m. EST, Bionano's stock price was down 13%.
Bionano expects to raise roughly $200 million via the sale of 33,333,350 shares of common stock at a price of $6 per share. It also gave underwriters the option to purchase (and subsequently sell) an additional 5 million shares at the same price. Bionano's stock sale is expected to close on Jan. 22.
Bionano Genomics' stock plunged on Wednesday. Image source: Getty Images.
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Why Bionano Genomics Stock Is Down Today