Ginkgo Agrees to $17 5 Billion Merger With Harry Sloan SPAC yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Biotech firm Ginkgo to merge with Harry Sloan-led SPAC in $15 billion deal
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Last Updated: May 11, 2021, 04:16 PM IST
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The deal with Soaring Eagle Acquisition Corp is expected to fetch $2.5 billion in proceeds for the combined entity, the companies said. Baillie Gifford, Putnam Investments and accounts advised by ARK Investment Management have agreed to invest $775 million in the deal.
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Boston-based Ginkgo is also backed by Bill Gates private investment firm Cascade Investment.
Ginkgo Bioworks will go public through a merger with a blank-check company led by former Hollywood executives Harry Sloan and Jeff Sagansky, in a deal that values the biotech company at $15 billion, the companies said on Tuesday.
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A well seasoned SPAC management team announced a SPAC deal Tuesday to bring a cell programming company public.
The SPAC Deal: Ginkgo Bioworks is going public in a SPAC deal with
Soaring Eagle Acquisition Corp (NASDAQ: SRNG) that values the company at a pre money equity value of $15 billion.
Soaring Eagle Acquisition Corp is a SPAC from Harry Sloan and Jeff Sagansky, a seasoned SPAC team that previously brought
DraftKings Inc (NASDAQ: DKNG) and
Skillz (NYSE: SKLZ) public.
The SPAC merger includes an oversubscribed PIPE of $775 million from key investors that included Baillie Gifford, Bain Capital, T. Rowe Price, Ark Investment Management and Cascade Investment, led by Bill Gates.
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