SRNGW - Soaring Eagle: SPAC Merger With Promising Synthetic Biology Specialist Ginkgo Bioworks

• Ginkgo Bioworks, Inc. and Soaring Eagle Acquisition Corp., a special purpose acquisition company, have announced their $17B merger transaction will finalize in Q3'21 resulting in Ginkgo earning a $15B EV.
• Ginkgo Bioworks is a high-growth analytical biotechnology company applying automation for contract-based cell engineering utilizing a combination of computational and synthetic biological practices.
• Ginkgo specializes in strain improvement, enzyme discovery, cultured ingredients development (often done through engineered yeast), and mammalian cell engineering for various end markets including chemicals, pharmaceuticals, industrials, and food, amongst others.
• Ginkgo is one the fastest-growing biotechnology companies with an 84% expected 4-year CAGR with net revenues of $64M (+18% y/y) in 2020 across their 70 major customer programs on top of a net loss as expected of -$126.6M.
• In summary, the author projects Ginkgo Bioworks, Inc. & Soaring Eagle Acquisition Corp. as a strong "buy" at a 4-year price target of $16.90 (+70% upside).

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