Ginkgo Bioworks, a.k.a. “the organism company,” has notched many milestones in its 13-year history, Fortune magazine reports. Founded by four Ph.D. students in bioengineering and computer science at MIT with their professor, the synthetic biology business has partnered with Fortune 500 giants to develop custom strains of organisms used to make everything from fragrances to fertilizers. They have collaborated with Roche to hunt for natural antibiotics in soil. They’ve worked with startups to engineer probiotics to treat disease and to break down plastic pollution. They’ve designed lab-grown proteins that make faux meat taste real. Now they share the story of taking their company public via a SPAC.
The company in May announced a business combination with Soaring Eagle Acquisition 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. Read more.
Related Posts
As US SPAC Boom Cools, Europe’s is Just Heating up: Report
Europe has been slow to catch on to the boom in blank-check companies, but signs of oversaturation in the US suggest the continent's turn is coming, PitchBook reports.
Woodruff Sawyer SPAC Litigation Outlook: 2021 Trends Lead to 2022 Predictions
Securities class actions filed in connection with SPAC-related transactions in 2021, for example, jumped by 520% from 2020.
Trump’s Truth Social has Earned Only $1.2M in Advertising Since 2022 Launch as SPAC Deal Drags On
By contrast, Twitter reported ad revenue of $1 billion in the second quarter of 2022, while Meta posted $28.1 billion in advertising revenue for the same period.
After Grab’s Back Door US Listing, Will SPACs Take Off in Hong Kong and Singapore?
Listings of SPACs are gaining momentum in both Asian financial hubs, injecting life into the bourses – but will the buzz last?