Successful Ginkgo Bioworks SPAC IPO Highlights Available Industry Opportunities

• Special purpose acquisition company Soaring Eagle Acquisition Corp. combined with Ginkgo Bioworks to form publicly-listed Ginkgo Bioworks Holdings Inc., in what is the largest-ever biotechnology go-public transaction
• Ginkgo Bioworks is known for its work in the commercial-scale production of a rare cannabinoid, CBG, for use in a multitude of industrial needs
• InMed uses multiple manufacturing approaches to synthetically produce rare cannabinoids, including CBC which is currently sold through its subsidiary BayMedica
• The success of the Ginkgo IPO suggests the marketplace value associated with the production of rare cannabinoids

Special purpose acquisition company (“SPAC”) Soaring Eagle Acquisition Corp. SRNGU recently announced a business combination between itself and Ginkgo Bioworks. The resulting entity made its debut renamed Ginkgo Bioworks Holdings, Inc., and a public listing on the New York Stock Exchange (“NYSE”) under the ticker symbol DNA. A total of 75% of Soaring Eagle’s shareholders participated in the vote, with 97% of them voting in favor of the combination. The combination closed on September 16, 2021, with the public trade on the NYSE commencing the following day. The $1.6 billion in proceeds from the combination represents the largest biotechnology go-public transaction to date (https://cnw.fm/WQnzi).

In recent news, Ginkgo Bioworks announced that the company had made a breakthrough improvement on how they produce a key material used in mRNA vaccine manufacturing and the commercial-scale production of the rare cannabinoid CBG. Like Ginkgo Bioworks, biopharmaceutical company InMed Pharmaceuticals Inc. INM and its subsidiary BayMedica are innovators in the field of…

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