BioSource International Inc. in Camarillo said its Series B preferred stock, owned by Genstar Capital LLC, was converted to common stock based on an agreement that triggered when the common stock was above $20 per share for 20 consecutive trading days on the Nasdaq exchange.
Genstar originally acquired 371,300 shares of the Series B stock on Feb. 15, with another 17,843 shares acquired since then. The preferred stock converted at a ratio of four common shares for every share of Series B stock, or more than 1.5 million shares of common stock.
