- Business combination of Ginkgo Bioworks and Soaring Eagle Acquisition (NASDAQ:SRNG) is named Ginkgo Bioworks Holdings.
- The common stock and public warrants will begin trading today on the NYSE under the ticker symbols "DNA" and "DNA.WS" respectively.
- The transaction provides total proceeds of over $1.6B and values Ginkgo at a $15B enterprise value.
- The largest investors include ARK Investment Management, Baillie Gifford, Putnam Investments, funds and accounts managed by Counterpoint Global and Franklin Advisers.
- The proceeds are expected to fund the expansion of Ginkgo's cell programming platform.New board members include Dr. Arie Belldegrun, Executive Chairman and Co-Founder of Allogene Therapeutics, Reshma Kewalramani, CEO and President at Vertex, and Harry Sloan, Chairman and CEO of Soaring Eagle Acquisition.
- Stock climbs 2.9% pre-market.