Ginkgo Bioworks to Go Public via Soaring Eagle SPAC Business Combination
May 11, 2021
Ginkgo Bioworks has agreed to a business combination with Soaring Eagle Acquisition Corp., which values Ginkgo at a $15.0 billion pre-money equity valuation and is expected to provide up to $2.5 billion of primary proceeds (including a $775 million PIPE). The transaction will take Ginkgo public, expand capital to scale its synthetic biology Foundry and platform capabilities across therapeutics, industrials, food and agriculture, and is expected to close in 3Q 2021 subject to customary approvals.
- Buyers
- Soaring Eagle Acquisition Corp., Eagle Equity Partners, Bellco Capital, Baillie Gifford, Putnam Investments, Counterpoint Global (Morgan Stanley Investment Management), ARK Investment Management LLC, ArrowMark Partners, Bain Capital Public Equity, Berkshire Partners, Franklin Advisers, Cascade Investment, Casdin Capital, T. Rowe Price Associates, Inc., Viking Global Investors
- Targets
- Ginkgo Bioworks, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Transaction Type
- Growth capital
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