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Ginkgo Bioworks Expands Horizontal Synthetic Biology Platform With This Stock Deal

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  • Ginkgo Bioworks Holdings Inc (NYSE: DNAagreed to acquire Zymergen Inc (NASDAQ: ZY) in an all-stock transaction.

  • Zymergen stockholders will receive 0.9179 shares of Ginkgo's Class A common stock for each Zymergen share. The deal values Zymergen at approximately $300 million and would provide Zymergen shareholders about 5.25% pro forma ownership of Ginkgo.

  • Ginkgo plans to integrate Zymergen's core automation and software technologies for scaling strain engineering capacity into its foundry, including machine learning and data science tools for exploring genetic design space.

  • The agreement represents Ginkgo's largest acquisition to date and is expected to significantly enhance Ginkgo's platform by integrating robust automation and software capabilities.

  • Ginkgo customers will also benefit from expanding Ginkgo's library of biological assets ("Codebase") following the transaction.

  • The transaction is expected to be completed by the first quarter of 2023.

  • Price Action: DNA shares are down 4.62% at $2.79, and ZY stock is up 18.8% at $2.38 during the market session on the last check Monday.

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