One of the largest SPACs seeking a target could be nearing a $20 billion deal to bring one of the largest privately-held biotechnology companies public.
The SPAC Rumor: Bloomberg reports Ginkgo Bioworks is in talks with Soaring Eagle Acquisition Corp (NASDAQ: SRNGU), a SPAC led by Harry Sloan and. Read More.
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(Reuters) - A blank-check acquisition company backed by investors Harry Sloan and Eli Baker has abandoned a novel plan that would have enabled it to take multiple companies public, according to regulatory filings published on Thursday.
The investors made the change because of feedback from the U.S. Securities and Exchange Commission (SEC) that it was reluctant to approve the plan as long as it did not have a new chair, according to a person familiar with the matter. Gary Gensler, President Joe Biden’s pick as SEC chair, has yet to be confirmed by U.S. lawmakers.