SRNG - Soaring Eagle Acquisition and Ginkgo Bioworks combined business to begin trading on NYSE

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.

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Soaring Eagle Acquisition and Ginkgo Bioworks combined business to begin trading on NYSE