2023-04-17 11:19:27 ET
- Bionano Genomics ( NASDAQ: BNGO ) is off 19% in Monday morning trading after selling a single share of its new Series A Preferred Stock to board chairman David Barker.
- That share has 3M votes.
- Barker has agreed that for any reverse stock split proposal, those votes will be cast in the same way the common stock shares are voted for, Bloomberg reported. The preferred share votes are only valid for a reverse stock split proposal.
- Read why Seeking Alpha contributor Busted IPO Forum recently called Bionano ( BNGO ) a hold.
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Bionano Genomics down 19% on sale of preferred stock share