On November 16, 2022 Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) ("Ginkgo"), which is building the leading platform for cell programing and biosecurity, reported the sale of shares of its Class A common stock for gross proceeds of approximately $100 million to BTIG, LLC, as the underwriter in the registered public offering of those shares (Press release, Ginkgo Bioworks, NOV 16, 2022, View Source [SID1234624179]). In connection with this offering, Ginkgo has granted the underwriter a 30-day option to purchase up to an additional $15 million of shares of Class A common stock.
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The last reported sale price of Ginkgo’s Class A common stock on November 15, 2022 was $2.67 per share. The underwriter proposes to offer for sale the shares of common stock from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to the prevailing market prices or at negotiated prices, subject to receipt and acceptance by it and subject to its right to reject any order in whole or in part.
BTIG, LLC is acting as the sole book-running manager for the offering. The offering is expected to close on or about November 18, 2022, subject to the satisfaction of customary closing conditions.
Ginkgo intends to use the net proceeds from the offering to offset the cash used to finance the acquisition of certain assets and liabilities of Bayer CropScience LP and for other general corporate purposes. The shares described above are being offered by Ginkgo pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (the "SEC") on October 4, 2022 and declared effective by the SEC on October 14, 2022. A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC on November 15, 2022. The final prospectus supplement relating to the offering will be filed with the SEC. When available, copies of the final prospectus supplement and the accompanying prospectus can be obtained at the SEC’s website View Source or from BTIG, LLC at 65 East 55th Street New York, NY, 10022 or by e-mail at [email protected].
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the offering, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.