NEWS COMMENTARY

Ginkgo Bioworks to go public via $17.5 billion SPAC deal

Published:
May 13, 2021
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Backed by Harry Sloan and Jeff Sagansky, this merger with Soaring Eagle Acquisition will give Ginkgo a pre-money equity valuation of $15 billion, with an additional $2.5 billion for the combined entity – one of the biggest SPAC deals in recent times. This news comes on the heels of Zymergen's IPO announcement, through which it raised $500 million. While the two have significantly evolved over the years, in Ginkgo's case, the company has further diversified through different spinouts targeting ag biologicals, alternative protein ingredients, and bioremediation. Clients should note that Ginkgo is playing a numbers game – it does not depend on any one project to succeed. Additional funding will only expand its reach and disruption potential.

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