SPACInsider Logo
Soaring Eagle Acquisition Corp. (SRNG) Shareholders Approve Ginko Bioworks Deal
by Nicholas Alan Clayton on 2021-09-14 at 10:16am

Soaring Eagle Acquisition Corp. (NASDAQ:SRNG) has secured shareholder approval of its combination with cell programming company Ginko Bioworks at a shareholder vote this morning.

The SPAC did see about 49% of its trust redeemed in the vote, however. This will still provide about $1.6 billion in proceeds to Ginko Bioworks, including $858 million from Soaring Eagle’s remaining trust, which is plenty to fulfill the transactions’ minimum cash condition of $1.25 billion. Overall, this is a better-than-average result compared to the redemption rates of the past month, but still more than might be expected for such a prestigious deal.

Soaring Eagle expects to complete the transaction on September 16. The combined company’s shares and warrants are expected to begin trading on the NYSE the following day under the symbols “DNA” and “DNA.WS”, respectively.

Ginko Bioworks uses genetic engineering to create bacteria for a range of industries with a focus on strain improvement, enzyme discovery, new product development, biosecurity, and mammalian cell engineering. Most recently, Ginko Bioworks announced its platform had achieved breakthroughs in manufacturing mRNA vaccines and rare forms of cannabis compounds.

About 75% of shares participated in Soaring Eagle’s vote and 97% voted in favor of the transaction. Vote tallies on any additional measures will be made available once the SPAC files its 8-K on the meeting.


  • Allen & Company LLC and Morgan Stanley & Co. LLC are acting as financial advisors to Ginkgo.
  • Latham & Watkins LLP is acting as legal advisor to Ginkgo.
  • Wachtell, Lipton, Rosen & Katz is acting as legal advisor to Ginkgo with respect to certain corporate governance matters.
  • Goldman Sachs & Co. LLC is acting as financial advisor to Soaring Eagle.
  • White & Case LLP is acting as legal advisor to Soaring Eagle.
  • Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, and Allen & Company LLC served as placement agents for Soaring Eagle on the PIPE transaction.
Recent Posts
by Marlena Haddad on 2023-06-02 at 6:24pm

Trajectory Alpha Acquisition Corp. (NYSE:TCOA) announced this afternoon that it has entered into a purchase and contribution agreement with its sponsor and J. Streicher Holdings, LLC. As a result, the SPAC will undergo a change in management. As part of the agreement, J. Streicher will pay $250,000 to Trajectory Alpha and $1.00 to the sponsor. In return,...

by Marlena Haddad on 2023-06-02 at 5:36pm

Latest SPAC Liquidations: Sound Point I, Bullpen Parlay, and Zimmer Energy Transition Sound Point Acquisition Corp I (SPCM) to Liquidate on June 4 Sound Point Acquisition Corp I, Ltd (NASDAQ: SPCM) announced today that it intends to liquidate and dissolve, effective as of June 4, 2023, and will redeem all of the outstanding Class A...

by Marlena Haddad on 2023-06-02 at 5:35pm

Latest Non-Redemption Agreements:  GSR II Meteora Acquisition Corp. GSR II Meteora Acquisition Corporation (GSRM) Adds Non-Redemption Agreement On May 31, 2023, GSR II Meteora Acquisition Corp., (NASDAQ:GSRM), entered into certain non-redemption agreements with certain third parties in connection with the special meeting of stockholders. Pursuant to such Non-Redemption Agreements, each Non-Redeeming Stockholder agreed that it will...

by Marlena Haddad on 2023-06-02 at 5:34pm

Athena Technology Acquisition Corp. II (NYSE:ATEK) announced this afternoon that it is postponing its extension vote scheduled for June 12 until June 13. Shareholders at the special meeting are to vote on a proposal to allow Athena Technology II to extend its transaction deadline on a monthly basis up to nine times from June 14,...

by Marlena Haddad on 2023-06-02 at 12:41pm

Clover Leaf Capital Corp. (NASDAQ: CLOE) has entered into a definitive agreement to combine with Digital Ally, Inc.’s (NASDAQ: DGLY) ticketing platform Kustom Entertainment at a pro forma equity value of approximately $222.2 million. Kansas City, Kansas-based Kustom Entertainment is a primary and secondary ticket platform that manages wholly-owned subsidiaries TicketSmarter and Kustom 440. Transaction Overview Clover...

Privacy Policy|Terms Of Use
Copyright © 2023 SPACInsider, Inc. All Rights Reserved