Why it matters: Ginkgo's multibillion-dollar offering is a milestone in the maturation of synthetic biology from a science to a true industry. Baillie Gifford is set to receive a boost from its holding in Ginkgo Bioworks after the biotech firm agreed to go public by merging with a special purpose acquisition company (Spac), handing it a $17.5bn valuation. The deal includes a $775 million oversubscribed PIPE, with anchor investments from Baillie Gifford, Putnam Investments, and funds and accounts managed by . body from dangerous infections, and it generates . Boston-based Ginkgo is exploring a potential combination with Soaring Eagle Acquisition, Boston-based Ginkgo announced Tuesday that it is combining with Soaring Eagle Acquisition Corp, a special purpose acquisition company (SPAC). The synthetic biology firm Ginkgo Bioworks will become a publicly traded company later this year by merging with a special purpose acquisition company, or SPAC. This is the second business combination for Gingko Bioworks in as many weeks. Ginkgo Bioworks and Soaring Eagle Acquisition today announced a business combination that values the engineered biology company at a $15 billion pre-money equity valuation and is expected to provide up to $2.5 billion of primary proceeds. Ginkgo Bioworks will hit the public markets at a pre-money valuation of $15 billion by merging with a special purpose acquisition vehicle backed by former Metro-Goldwyn-Mayer Studios and CBS . Investment banks generally get a single digit percentage underwriting fee on gross IPO proceeds. The deal garnered the company $1.6 billion at a scandalous $15 billion valuation. May 11, 2021. the planned transaction implied a $15.0 billion pre-money equity valuation for Ginkgo and was expected to provide up to $2.5 billion of gross cash proceeds. The transaction is expected in the third quarter, it implies a $15.0 billion pre-money equity valuation for Ginkgo and is expected to provide up to $2.5 billion of gross cash proceeds. Ginkgo Bioworks, a Boston-based biotech company, is gearing up to go public through a reverse merger with Soaring Eagle Acquisition (SRNG). Ginkgo Bioworks is a developer of biological engineering products and custom microbes across multiple markets. At that time, it would also generate positive It called . All existing major investors and other new investors including "funds and . Date Valuation; May 2019: $1.4 B: June 2020 : $4.4 B: May 2021: $17.5 B: The revenues of Ginkgo Bioworks have also . The SPAC, which currently trades publicly on the Nasdaq Exchange under the ticker symbol "SRNG," gives Ginkgo . The SPAC, which currently trades publicly on the Nasdaq Exchange under the ticker symbol "SRNG," gives Ginkgo Bioworks a $15 billion pre-money equity valuation. Ginkgo Bioworks, Inc. and Soaring Eagle Acquisition Corp. (Nasdaq: SRNG), a publicly traded special purpose acquisition company, have agreed to a business combination . Earlier this year, Soaring Eagle announced it would merge with Ginkgo in a deal that valued the Boston company at $15 billion. Gingko Bioworks also provides probiotic bacteria to protect the . The SPAC, which. Job detailsJob type fulltimeNot provided by employerFull job descriptionOur mission is to make biology easier to engineerGinkgo is constructing, editing, and redesigning the living world in order to answer the globe's growing challenges in health, energy, food, materials, and moreOur bioengineers make use of an inhouse automated foundry for designing and building new organisms.We are looking . Ginkgo Bioworks presented long-term revenue and profit estimates before coming public. TL;DR: Ginkgo is going public by way of a SPAC (see below) and expects to be funded with about $2.5 billion of new capital at a $15 billion pre-money valuation. This included $1.73 billion of cash in trust from Soaring Eagle and $775 million in proceeds from a PIPE transaction priced at $10.00 per share of Class A common . Cascade Investment and Franklin Advisors are the most recent investors. Was $15 billion worth of value created in less than a year's time? The transaction implies a $15.0 billion pre-money equity valuation for Ginkgo and is expected to provide up to $2.5 billion of gross cash proceeds. Ginkgo tees up its next acquisition just days after inking $2.5B SPAC deal. It is . The incentives on Ginkgo Bioworks are horribly misaligned. The company is valued at more than $15 billion. Zymergen has had a decrease in revenues … Press J to jump to the feed. Subscribe to the Crunchbase Daily. Citron talks about how Ginkgo's biggest shareholder, a hedge fund called Viking Global, was investing in Ginkgo at around a $200 million valuation. Ginkgo Bioworks to Go Public With $1.63B in Proceeds From SPAC Merger . Ginkgo Bioworks, a synthetic biology company now valued at around $15 billion, begins trading on the New York Stock Exchange today. Bill Gates-backed Ginkgo Bioworks going public via $15 billion SPAC - Ginkgo Bioworks will make its market debut by merging with Soaring Eagle Acquisition Corp., the blank-check company led by former MGM CEO Harry Sloan. Based on my running tally of the 2021 SPAC-related . Log In Sign Up. Ginkgo Bioworks resizes the definition of going big in biotech, raising $2.5B in a record SPAC deal that weighs in with a whopping $15B-plus valuation (Endpoints News) Ginkgo Bioworks, a synthetic biology company with technology that programs cells in the same way that coders program computers, is going public in a merger deal that values the firm at $15 billion. Before the merger, the Company was known as Ginkgo Bioworks, Inc. • What is a SPAC? It called for revenue to hit $1.1 billion in 2025. Ginkgo Bioworks has raised $789.1 m in total funding across 7 funding rounds for a $1.3 b valuation. Their latest funding was raised on Sep 17, 2021 from a Post-IPO Equity round. 877.HACK.DNA / 877.422.5362 Boston-based Ginkgo announced Tuesday that it is combining with Soaring Eagle Acquisition Corp, a special purpose acquisition company (SPAC). Ginkgo Bioworks Going Public at $15B Valuation Through… You Guessed It, a SPAC Merger May 12, 2021 By Lynda Kiernan, Global AgInvesting Media If the deals of 2021 had a theme, it would be SPAC mergers. May 11, 2021 3:35 AM PDT Shares of Soaring Eagle Acquisition Corp. (SRNG) rallied 2.6% in premarket trading after the special purpose acquisition company (SPAC) announced a merger agreement that. Ginkgo recorded $76.7 million in revenue last year with a net loss of $124.8 million. May. rallied 2.6% in premarket trading after the special purpose acquisition company (SPAC) announced a merger agreement that will take Boston-based biology building company Ginkgo Bioworks Inc. public at a $15 billion pre-money equity valuation. While Ginkgo Bioworks is an exciting company, the pricing of the SPAC stock leaves a lot of room for things to go wrong between now and the company's long-term projections. It is the self-proclaimed "Organism Company" and was one of . Ginkgo Bioworks to go public at $15bn valuation as ag SPAC frenzy continues May 12, . They have every . Ginkgo Bioworks resizes the definition of going big in biotech, raising $2.5B in a record SPAC deal that weighs in with a whopping $15B-plus valuation (Endpoints News) Ginkgo Bioworks CEO on . US synthetic biology startup Ginkgo Bioworks has announced its plan to go public by merging with a special purpose acquisition company (SPAC) in a deal that values it at $15 billion. The SRNG SPAC raised about $1.5 billion in a Feb. 2021 IPO. Before the SPAC transaction, Ginkgo Bioworks had raised a total $797.8 million in financing according to Crunchbase—including a $290 million Series E financing completed in 2019. Subject Company: Ginkgo Bioworks, Inc. . r/SPACs. Boston-based Ginkgo and Soaring Eagle announced in May that they had inked a deal that valued Ginkgo at $15 billion and would produce up to $2.5 billion in proceeds. Scoop: Biotech unicorn Ginkgo Bioworks looks to raise over $300M for Series E. Ginkgo Bioworks is seeking to raise up to $311.6 million in Series E funding, PitchBook has learned. Funding. Shares of Soaring Eagle Acquisition Corp. rallied 2.6% in premarket trading after the special purpose acquisition company (SPAC) announced a merger agreement that will take Boston-based biology . Ginkgo Bioworks inks SPAC deal. The recent $17.5 billion valuation is due to a SPAC merger with Soaring Eagle to make Ginkgo Bioworks a publicly traded company under the ticker symbol "DNA". Ginkgo Bioworks has raised a total of $1.6B in funding over 11 rounds. Last month, Aldevron revealed a strategic partnership with AavantiBio focused on gene therapies for rare genetic diseases. USA. At that time, it would also generate positive It called . The valuation of Ginkgo Bioworks has nearly tripled from 2019 to 2020 and then nearly tripled again from 2020 to 2021. 44 on last year's CNBC Disruptor 50 list, was most recently valued at $4.86 billion following a May financing round, according to PitchBook data. • A SPAC (Special Purpose Acquisition Company) is a public company that has no real operations and is formed specifically for the purpose of raising . The Boston-based biotech is set to combine with Nasdaq-listed Soaring Eagle Acquisition Corp, with the merger expected to provide up to $2.5 billion in cash proceeds. Press question mark to learn the rest of the keyboard shortcuts. The company specializes in using genetic engineering to produce bacteria with industrial applications. At that time, it would also generate positive It called . Ginkgo is also engineering bacteria to produce enzymes needed for Moderna's COVID-19 vaccine . - The SPAC has attracted institutional investors including Cathie Wood of Ark Invest . Ginkgo Bioworks presented long-term revenue and profit estimates before coming public. Ginkgo Bioworks is an analytics company that designs microorganisms for customers in a range of industries. At a market. Ginkgo Bioworks to be taken public by SPAC Soaring Eagle at a valuation of $15 billion By marketwatch.com | 4m Shares of Soaring Eagle Acquisition Corp . This will include . The transaction will be one of. In a new report, Citron Research editor Andrew Left said called Ginkgo "a scheme" and said the company's recent $24 billion valuation is absurd given it raised capital in 2020 at roughly a $5 . 11 May 2021. Ginkgo Bioworks Exploring Over $20 Billion Sloan SPAC Deal. Ginkgo Bioworks is a biotech company from the United States founded in 2009 by scientists from MIT and headed by Jason Kelly. They talk about something we pointed out in May - Ginkgo Bioworks went from a $4.2 billion valuation before the SPAC to a $20 billion valuation after the SPAC. Ginkgo Bioworks is registered under the ticker NYSE:DNA . Key Points Boston-based Ginkgo Bioworks began trading on the New York Stock Exchange on Friday, becoming the latest company to close a SPAC merger and go public. 24. Ginkgo Bioworks is funded by 41 investors. Ginkgo Bioworks is a biotech company from the United States founded in 2009 by scientists from MIT and headed by Jason Kelly. Ginkgo Press. Ginkgo Bioworks, a biotechnology company based in Boston, has entered into an agreement to merge with SPAC Soaring Eagle Acquisition Corp. Biotech company Ginkgo Bioworks is set to make its market debut by merging with Soaring Eagle Acquisition, a special purpose acquisition company, or SPAC, led by former MGM CEO Harry Sloan. With such a steep P/S ratio, a downturn in the market or poor performance by the business could cause investors to push the stock price (and its valuation) lower once Ginkgo merges with Soaring Eagle. US biotech company Ginkgo Bioworks has raised $2.5 billion in a mega SPAC deal aimed at going public on NASDAQ. The deal, worth $17.5. Ginkgo Bioworks Inc., which calls itself an "organism design" company, has agreed to go public in a $17.5 billion merger with a blank-check firm backed by former Hollywood executive Harry Sloan. Synthetic biology pioneer Ginkgo Bioworks agreed to go public today in a $17.5 billion SPAC deal. The deal will put $2.5 billion in . Ginkgo Bioworks to be taken public by SPAC Soaring Eagle at a valuation of $15 billion Shares of Soaring Eagle Acquisition Corp. undefined rallied 2.6% in premarket trading after the special purpose acquisition company (SPAC) announced a merger. The hefty valuation that the deal attaches to Ginkgo . Ginkgo Bioworks resizes the definition of going big in biotech, raising $2.5B in a record SPAC deal that weighs in with a whopping $15B-plus valuation. Ginkgo Bioworks to be taken public by SPAC Soaring Eagle at a valuation of $15 billion Posted on 11 May, 2021 by Megan Oudine Shares of Soaring Eagle Acquisition Corp. rallied 2.6% in premarket trading after the special purpose acquisition company (SPAC) announced a merger agreement that will take Boston-based biology building company Ginkgo Bioworks Inc. public at a $15 billion pre-money . Zymergen, a competitor of Ginkgo just had its IPO today and has been valued at approximately 4 billion USD. Read more on ENDPOINTS… Shanda Consult has been working with SPACs for many years, and our network of SPAC executives has deep experience in the sector. The deal with Soaring Eagle Acquisition Corp. generated . In a SPAC deal, a company is going public (Ginkgo) by merging with a company that is already listed (Soaring Eagle). No Comments . Driving the news: Ginkgo's shares — traded under the ticker symbol "DNA" — rose 6.6% on . Ginkgo Bioworks Inc., which calls itself an "organism design" company, has agreed to go public in a $17.5 billion merger with a blank-check firm backed by former Hollywood executive Harry Sloan. The transaction valued Gingko at a $15 billion pre-money equity valuation, in a deal expected to provide up to $2.5 billion in primary proceeds. The deal gives the synthetic biology specialist a $15 billion equity valuation and is expected to provide $2.5 billion in cash. Ginkgo Bioworks resizes the definition of going big in biotech, raising $2.5B in a record SPAC deal that weighs in with a whopping $15B-plus valuation (Endpoints News) Ginkgo Bioworks Redirects . Read on . The SRNG SPAC raised about $1.5 billion in a Feb. 2021 IPO. Under a new deal, Ginkgo will acquire 100% of Utrecht, Netherlands-based Dutch DNA Biotech through a combination of cash . Ginkgo Bioworks, a synthetic biology company with technology that programs cells in the same way that coders program computers, is going public in a merger deal that values the firm at $15 billion. Ginkgo Bioworks plans to go public through a merger with blank-check company Soaring Eagle Acquisition. Last week, the company went public on the Nasdaq Market via a SPAC acquisition by Soaring Eagle Acquisition Corp. Search within r/SPACs. Under the terms of the partnership deal, Aldevron will . Ginkgo Bioworks resizes the definition of going big in biotech, raising $2.5B in a record SPAC deal that weighs in with a whopping $15B-plus valuation. This will include Soaring Eagle's $1.73 billion of cash in trust and $775 million in proceeds from a private investment in public equity, or PIPE, transaction priced at $10.00 per share of Class A common stock of Soaring Eagle, to be funded . Found the internet! Soaring Eagle is the seventh. Ginkgo Bioworks resizes the definition of going big in biotech, raising $2.5B in a record SPAC deal that weighs in with a whopping $15B-plus valuation (Endpoints News) Ginkgo Bioworks CEO on scaling up Covid-19 testing: 'If we try, we can win' (CNBC) SRNG (Ginkgo Bioworks Rumour) Valuation. Ginkgo Bioworks resizes the definition of going big in biotech, raising $2.5B in a record SPAC deal that weighs in with a whopping $15B-plus valuation (Endpoints News) 27 Drydock Avenue, 8th Floor Boston, MA 02210. On May 11, 2021, the Company announced in a press release that Gingko Bioworks, Inc. had entered into a definitive business combination with Soaring Eagle Acquisition Corp. that would result in Ginkgo Bioworks, Inc. becoming a publicly listed company via SPAC merger. The company, ranked No. Zymergen has had a decrease in revenues … Press J to jump to the feed. Latham & Watkins Advises Ginkgo Bioworks in US$15 Billion de-SPAC Merger with Soaring Eagle Acquisition Corp. A corporate deal team advises on the transaction that will make Ginkgo Bioworks a publicly traded company. So, we sold our position in Ginkgo Bioworks, intending to take another look once the deal closed. Editorial office / Boston. Latham & Watkins Advises Ginkgo Bioworks in US$15 Billion de-SPAC Merger with Soaring Eagle Acquisition Corp. Ginkgo Bioworks, Inc. and Soaring Eagle Acquisition Corp. (Nasdaq: SRNG), a publicly traded special purpose acquisition company, have agreed to a business combination that will result in Ginkgo becoming a publicly traded company. 24. Ginkgo Bioworks — a Boston-based company that wants to make biology as easy to program as a computer — began trading on Friday after going public via a SPAC. What's Happening?! 11 2021, Published 1:23 p.m. Ginkgo's market debut is one of the largest in biotech history.. User account menu. Found the internet! Valuation $15 billion Ginkgo Bioworks closes mega SPAC deal. Log In Sign Up. The hefty valuation that the deal attaches to Ginkgo . It called for revenue to hit $1.1 billion in 2025. The market for bioengineered products is valued at between $2 trillion and $4 trillion, Ginkgo. The funding could value the company at up to $4.8 billion, per a PitchBook estimate, up from a previous valuation of $1.375 billion reached in late 2017. Soon after becoming the darling of the VC crew and clearing the bar on a $4 billion valuation, Ginkgo — a synthetic biotech player out to reprogram cells with industrial efficiency — has now struck. By my count, the lawsuit filed against Ginkgo Bioworks is the 27 th SPAC-related securities class action lawsuit to be filed so far in 2021. It designs, engineer, develops, tests, and licenses organisms. The transaction implies a pre-money equity valuation for . Ginkgo Bioworks To Become Public Via $17.5 Billion SPAC. It is the self-proclaimed "Organism Company" and was one of . Ginkgo Biowork: Ginkgo Bioworks Announces Its SPAC IPO and $15 Billion Valuation - News Break Ginkgo Bioworks, a biotechnology company based in Boston, has entered into an agreement to merge with SPAC Soaring Eagle Acquisition Corp. Search within r/SPACs. Boston-based biotech unicorn Ginkgo Bioworks announced today it has raised a $290 million Series E.The financing takes the 10-year-old company's valuation to over $4 billion, according to Forbes.It also brings its total funding to $719 million, according to its Crunchbase profile.. Ginkgo Bioworks, a company that designs organisms that can treat liver disorders or recreate the scent of an extinct Hawaiian hibiscus, is considering going public through a merger with a SPAC backed by Harry Sloan, Bloomberg reports, citing people with knowledge of the matter. It discovers molecules in flavors, sweeteners, cosmetic ingredients, crop treatments, and pharmaceuticals. Ginkgo Bioworks, a Boston, MA-based platform to program cells, and Soaring Eagle . The company specializes in using genetic engineering to produce bacteria with industrial applications. Zymergen, a competitor of Ginkgo just had its IPO today and has been valued at approximately 4 billion USD. S ynthetic-biology company Ginkgo Bioworks is getting set to go public by merging with Soaring Eagle Acquisition Corp. (NASDAQ: SRNG), a special purpose acquisition company ("SPAC"). Ginkgo Bioworks is poised to go public via a merger with Soaring Eagle Acquisition Company, a SPAC. Published on May 11, 2021 May 11, 2021 By FinSMEs. User account menu. Ginkgo Bioworks, a Boston-based biotech company, is gearing up to go public through a reverse merger with Soaring Eagle Acquisition (SRNG). r/SPACs. ET Ginkgo Bioworks, a biotechnology company based in Boston, has entered into an agreement to merge with SPAC Soaring Eagle Acquisition Corp. Ginkgo Bioworks is an analytics company that designs microorganisms for customers in a range of industries. Market capitalization / annualized revenues $17,930 million / (4 * 77.61) = 58 Ginkgo Bioworks made its highly anticipated stock-market debut Friday after closing its merger with a special purpose acquisition company. Ginkgo Bioworks presented long-term revenue and profit estimates before coming public. Speculation . As has been the case with a number of the post-SPAC-merger companies that have been hit with securities suits this year, Ginkgo was sued after the publication of the negative short-seller report. As part of the SPAC deal, DNA raised over $1.6 billion in proceeds while the S‐1 What makes the deal so eye-popping (aside from being one of the biggest SPACs to date) is that Ginkgo Bioworks has. Find detailed stats on Ginkgo Bioworks funding rounds and investors at Craft. SRNG (Ginkgo Bioworks Rumour) Valuation. Press question mark to learn the rest of the keyboard shortcuts. It called for revenue to hit $1.1 billion in 2025. Ginkgo Bioworks resizes the definition of going big in biotech, raising $2.5B in a record SPAC deal that weighs in with a whopping $15B-plus valuation (Endpoints News) Ginkgo Bioworks Redirects . Kelly's stake will be worth well more than $700 million. Speculation . The Scottish asset manager first invested in Ginkgo Bioworks in 2016 and the company was a 1.4% holding in the Scottish Mortgage . Shares opened at $11.15 apiece. Ginkgo Bioworks Announces Agreement to Acquire Fungal Platform Technology Company Dutch DNA. Today, we would never invest in Ginkgo Bioworks because it is overvalued according to our simple valuation ratio. The Boston-based company will merge with Soaring Eagle Acquisition Corp., a blank-check firm . 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