Business

Biotech startup Ginkgo Bioworks planning to join Harry Sloan-led SPAC

By Aishwarya Gurav

Biotech startup Ginkgo Bioworks is planning to merge with a blank-check firm supported by former Hollywood executives Harry Sloan and Jeff Sagansky, and advancing in a public firm in a deal valued at about $20 billion, according to sources.

Soaring Eagle Acquisition Corp is also comprehended for a potential business combination. The deal could be public as early as this month, the source said on Friday.

Soaring Eagle preferred silence on the matter.

Bill Gates supports Boston-based Ginkgo, Cascade Investment, private investment firm, Cascade Investment, and hedge fund Viking Global receiving a $1.1 billion loan from the U.S. government in November for COVID-19 testing and production of raw materials for therapies that may help address future pandemics.

Sloan, a former chief executive officer of Metro Goldwyn Mayer, and Sagansky’s former SPACs took gaming firms DraftKings Inc and Skillz Inc public.

Tags: Bill Gates Biotech Ginkgo Bioworks Harry Sloan Harry Sloan and Jeff Sagansky Hollywood Jeff Sagansky

Aishwarya Gurav

Aishwarya Shridhar Gurav is a recent graduate who pursued her degree in Bachelor of Mass Media & Journalism. She is a dynamic, self-motivated, and highly organized individual with a passion for news and an innate desire for authoring. She aims to pen her thoughts which will lead the way to revolution. and can be reached at aishwaryagurav69@gmail.com