ZY - Ginkgo to acquire biotech firm Zymergen in $300M all-stock deal

• Cell programming company Ginkgo Bioworks ( NYSE: DNA ) has agreed to acquire Zymergen ( ZY ) in an all-stock transaction that valued the Emeryville, California-based biotech at nearly $300M of market capitalization, the companies said on Monday.
• Per the terms, Zymergen ( ZY ) shareholders are entitled to 0.9179 Ginkgo ( DNA ) shares for each Zymergen share leading them to claim 5.25% pro forma ownership in the company following the deal.
• “We have always had incredible respect for the Zymergen team and the strength of the technologies that they have built for cell programming," noted Jason Kelly, CEO and co-founder of Ginkgo ( DNA ).
• The deal which has been unanimously approved by the boards of both companies is expected to close in 1Q 2023 subject to approval by Zymergen's ( ZY ) stockholders and other closing conditions.

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