Soaring Eagle Acquisition (SRNG) Stock News, May 11, 2021

Ginkgo Bioworks and Soaring Eagle Acquisition Corp. (Nasdaq: SRNG) are merging, giving Ginkgo a $15 billion pre-money valuation and up to $2.5 billion in primary proceeds. The deal includes a $775 million PIPE investment led by major institutional investors. Ginkgo anticipates $150 million in revenue for 2021, reflecting a 96% growth from 2020. Key personnel, including CEO Jason Kelly, will continue to lead post-merger. The transaction is subject to shareholder approval and expected to close in Q3 2021.