Soaring Eagle Acquisition registered to sell up to up to 77.5 million shares of Class A common stock in a PIPE to support its $2.5 billion purchase of Ginkgo Bioworks, which specializes in using genetic engineering to produce bacteria with industrial applications.
The deal values the combined company at at a $15 billion pre-money equity valuation. Led by former MGM CEO Harry Sloan, Soaring Eagle raised $1.5 billion in a February IPO.
The PIPE is anchored by Baillie Gifford, Putnam Investments, and funds and accounts managed by Counterpoint Global (Morgan Stanley Investment Management). New investors including accounts advised by ARK Investment Management, ArrowMark Partners, Bain Capital Public Equity, Berkshire Partners, and Franklin Advisers also joined. Existing investors including Cascade Investment, Casdin Capital, General Atlantic, Senator Investment Group, funds and accounts advised by T. Rowe Price and Viking Global Investors are participating. Read more.
