Why Zymergen (ZY) Shares Are Trading Higher Today - Ginkgo Bioworks Holdings (NYSE:DNA)

Ginkgo Bioworks Holdings Inc DNA agreed to acquire Zymergen Inc 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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