Ginkgo Bioworks Holdings Inc (DNA)

[wiredawg]

Ginkgo Bioworks Launches $100 Million Common Stock Offering; Shares Down
Nov 16, 202210:12

DNA
-7.76%
Ginkgo Bioworks Holdings
DNA
said Wednesday it has launched a registered public offering of its class A common shares for about $100 million in gross proceeds.

BTIG, as the underwriter in offering, proposes to offer for sale the shares from time to time in one or more transactions. It has a 30-day overallotment option for up to an additional $15 million of the shares.

Ginkgo expects the offering to close around Friday and plans to use the net proceeds to offset the cash used to fund its acquisition of certain assets and liabilities of Bayer CropScience, among other uses.

The company's shares were down 8.8% in recent trading.

https://www.tradingview.com/news/mtnewswires.com:20221116:A2791520:0-ginkgo-bioworks-launches-100-million-common-stock-offering-shares-down/