Soaring Eagle Shareholders Approve Ginkgo Bioworks Deal with Redemptions Near 50%

Ginkgo Bioworks

Soaring Eagle Acquisition shareholders voted in favor of the merger with Ginkgo Bioworks, with 97% of shares voted in support of the deal.

Upon closing, Ginkgo Bioworks expects to receive $1.633 billion of gross proceeds, including $775 million from a committed PIPE plus approximately $858 million from the Soaring Eagle trust account.

Soaring Eagle raised about $1.5 billion in a February IPO, so redemptions ahead of the Ginkgo vote would have been about 48% of the trust to leave $858 million.

Ginkgo stock and warrants are expected to begin trading Sept. 17 on the NYSE under DNA and DNA.WS. Read more.

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