Gingko Bioworks, valued at $15B, begins trading today: Here’s how their business works [TechCrunch Blog]
Soaring Eagle Acquisition Corp. - Unit (SRNGU)
Company Research
Source: TechCrunch Blog
Gingko Bioworks, a synthetic biology company now valued at around $15 billion, begins trading on the New York Stock Exchange today.Gingko’s market debut is one of the largest in biotech history. It’s expected to raise about $1.6 billion for the company. It’s also one of the biggest SPAC deals done to date — Gingko is going public through a merger with Soaring Eagle Acquisition Corp., which was announced in May.Shares opened at$11.15 eachthis morning under the ticker DNA — biotech dieharders will recognize it as theformer tickerused by Genentech.The exterior of the NYSE is decked out in Gingko décor. The imagery is clearly sporting Jurassic Park themes, as MIT Tech Review’s Antonio Regaladopointed out. It’s probably intentional: Jason Kelly, the CEO of Ginkgo Bioworks, has been re-reading “Jurassic Park”this week, he tells TechCrunch.The décor also sports a company motto: “Grow everything.”Ginkgo was founded in 2009, and now bills itself as a synthetic biology platform. That’s essentia
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