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Ginkgo Bioworks to Begin Trading Today as NYSE: DNA with Over $1.6 Billion in Proceeds prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
In Massachusetts, Ginkgo Bioworks and Soaring Eagle Acquisition Corp. have agreed to a business combination that will result in Ginkgo becoming a publicly-listed company. The transaction is expected to close in the third quarter of 2021. The $15B valuation and $2.5B to Ginkgo in proceeds The transaction implies a pre-money equity valuation for Ginkgo of $15.0 billion, and is expected to provide up to $2.5 billion of gross cash proceeds. Gross proceeds include Soaring Eagle’s $1.725 billion of cash in trust (subject to any redemptions by Soaring Eagle’s public shareholders) and $775 million in proceeds from a PIPE transaction priced at $10.00 per share of Class A common stock of Soaring Eagle to be funded immediately prior to the closing of the transaction. ....
Ginkgo Bioworks to Become a Public Company and Expand its Leading Platform for Cell Programming Ginkgo is building the leading horizontal platform for synthetic biology, making it possible to program cells as easily as we can program computers and enabling innovation across industries, including therapeutics, industrials, food and agriculture News provided by Share this article BOSTON and LOS ANGELES, May 11, 2021 /PRNewswire/ Business combination with Soaring Eagle Acquisition Corp. (Nasdaq:SRNG) values Ginkgo Bioworks, Inc. at a $15 billion pre-money equity valuation and is expected to provide up to $2.5 billion of primary proceeds. Institutional investors have committed $775 million in an oversubscribed PIPE, with anchor investments from Baillie Gifford, Putnam Investments, and funds and accounts managed by Counterpoint Global (Morgan Stanley Investment Management). New investors including accounts advised by ARK Investment Management LLC, ArrowMark P ....
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] Share 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. ....
The deal values the company at $15 billion or 24.1x 2024E revenues. The deal is expected to close in the third quarter of 2021. Ginkgo Bioworks, a biotech company based in Boston, announced that it will go public via a merger with Soaring Eagle Acquisition Corp. (SRNG), a special purpose acquisition vehicle (SPAC), in a deal that gives the company a pre-money equity valuation of $15 billion. The company expects to receive proceeds of $2.5 billion as part of the deal. Shares of Soaring Eagle Acquisition Corp. rallied earlier in the day after the announcement but later went down due to weakness in the broader markets. ....