maurusone Shares of Ginkgo Bioworks ( NYSE: DNA ) trended lower in the premarket on Friday after its board of directors approved a one-for-forty (1:40) reverse stock split for the company's common stock. In a regulatory filing late Thursday, the cell platform company said its Class A common stock will begin trading on the New York Stock Exchange on a split-adjusted basis on August 20, 2024. The decision came after Ginkgo ( DNA ) investors approved the plan, which called for a reverse split of the company's issued and outstanding shares of Class A and Class B common stock at a range of one-for-twenty (1:20) to one-for-forty (1:40).
More than 4.7B votes were in favor of the plan, and roughly 61.7M votes were against it.
There were ~1.6M abstentions. Ginkgo ( DNA ) announced the results after the voting took place on Wednesday at a special meeting of shareholders.
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03, revenue of $56.21M beats by $13.17M Biggest stock movers today: AMZN, INTC, DNA, and more.