8-K filed September 9, 2024, 7:59 PM ET ticker BNGO CIK 0001411690

other material confidence high sentiment negative materiality 0.85

Bionano Genomics, Inc. (BNGO): restructuring charge — Bionano cuts workforce 45%, lowers revenue guidance to $32-36M, CFO departs

Bionano Genomics, Inc.

Reduction of ~84 employees (45% of workforce); expects $25-30M annual cost savings starting Q4 2024.
Revenue guidance reduced to $32-36M from $36-40M due to fewer OGM instrument placements.
CFO Gülsen Kama leaving effective Sep 18; CEO Erik Holmlin appointed principal financial officer.
Restructuring charges estimated at $0.5-1.0M, substantially complete by Oct 1, 2024.

item 2.05 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed (interim)

R. Erik Holmlin

Principal Financial Officer

BNGO · Bionano Genomics, Inc.

Effective: 2024-09-18
Filed: September 9, 2024, 7:59 PM ET

On September 4, 2024, R. Erik Holmlin, Ph.D., President and Chief Executive Officer of the Company, was appointed by the Board of Directors (the “Board”) of the Company to serve as the principal financial officer of the Company, effective September 18, 2024

Departed

Gülsen Kama

Chief Financial Officer

BNGO · Bionano Genomics, Inc.

Effective: 2024-09-18
Filed: September 9, 2024, 7:59 PM ET

the role of our Chief Financial Officer, Gülsen Kama, was impacted and Ms. Kama will no longer be employed with the Company effective September 18, 2024.

Appointed (interim)

Mark Adamchak

Principal Accounting Officer

BNGO · Bionano Genomics, Inc.

Effective: 2024-09-18
Filed: September 9, 2024, 7:59 PM ET

Mark Adamchak, Vice President of Accounting & Finance was appointed to serve as the principal accounting officer of the Company, effective September 18, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

R. Erik Holmlin was appointed as Principal Financial Officer at Bionano Genomics, Inc..

Action: appointed
Role: Principal Financial Officer

Exact text from the filing

On September 4, 2024, R. Erik Holmlin, Ph.D., President and Chief Executive Officer of the Company, was appointed by the Board of Directors (the “Board”) of the Company to serve as the principal financial officer of the Company, effective September 18, 2024

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Gülsen Kama departed as Chief Financial Officer at Bionano Genomics, Inc..

Action: will no longer be employed
Role: Chief Financial Officer

Exact text from the filing

the role of our Chief Financial Officer, Gülsen Kama, was impacted and Ms. Kama will no longer be employed with the Company effective September 18, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Mark Adamchak was appointed as Principal Accounting Officer at Bionano Genomics, Inc..

Action: appointed
Role: Principal Accounting Officer

Exact text from the filing

Mark Adamchak, Vice President of Accounting & Finance was appointed to serve as the principal accounting officer of the Company, effective September 18, 2024.

View on SEC.gov

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Bionano Genomics, Inc. announced a restructuring with charges of $0.5 million to $1.0 million (approximately 84 employees, which represents approximately 45% of its full-time employees as of September 3, 2024).

Type: restructuring
Charge: $0.5 million to $1.0 million
Headcount: approximately 84 employees, which represents approximately 45% of its full-time employees as of September 3, 2024

Exact text from the filing

an additional $25.0 million to $30.0 million beginning in the fourth quarter of 2024. The Company estimates that it will incur total restructuring charges of approximately $0.5 million to $1.0 million, including severance payments in connection with the Plan. Of the total charges, substantially all charges are expected to be future cash expenditures. The

View on SEC.gov

3 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Bionano Genomics, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-24-040508

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