Synbio Powerhouse Ginkgo Bioworks Goes Public in $17.5B SPAC Deal
May 11, 2021
Synthetic biology powerhouse Ginkgo Bioworks will become a public company through a $17.5 billion merger with a special purpose acquisition company (SPAC) that is expected to provide up to $2.5 billion of gross cash proceeds. [Ginkgo Bioworks]
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Synthetic biology powerhouse Ginkgo Bioworks said today it will become a public company through a $17.5 billion merger with a special purpose acquisition company (SPAC) that is expected to provide up to $2.5 billion of gross cash proceeds.
The SPAC business combination with Soaring Eagle Acquisition Corp. implies a pre-money equity valuation of $15 billion for Ginkgo, the company said. Soaring Eagle will change its name to Ginkgo Bioworks Holdings, change its jurisdiction of formation to Delaware and change its ticker symbol from SRNG to a new symbol.
09:49am EDT|
Ginkgo Bioworks To Go Public In $17.5 Billion Deal With Former Hollywood Exec Harry Sloanâs SPAC
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Michael Prince for Forbes
Synthetic biology pioneer Ginkgo Bioworks agreed to go public today in a $17.5 billion SPAC deal. The Boston-based company will merge with Soaring Eagle Acquisition Corp., a blank-check firm founded by former Hollywood exec Harry Sloan in a giant deal for SPAC companies on Nasdaq.
âItâs a really fun time now, actually,â says Ginkgo cofounder and CEO Jason Kelly. âCovid-19 has had a weird effect on biology awareness. Proteins are on the cover of
The New York Times. I was on â60 Minutes.â My parents know what PCR is now. I think itâs a really good moment to bring more of this into peopleâs lives.â
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