Ginkgo Bioworks to Hold Special Meeting of Shareholders

Rhea-AI Summary

Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) has announced a special meeting of shareholders to be held virtually on August 14, 2024, at 4:00 pm ET. The primary purpose of this meeting is to vote on permitting a reverse stock split of the company's Class A and Class B common stock. The proposed split ratio ranges from 1:20 to 1:40, with the final ratio to be determined by the Board of Directors.

Shareholders will also vote on approving Ginkgo's Amended and Restated Certificate of Incorporation, which includes updates to permit officer exculpation and remove outdated provisions. Detailed information about the meeting and voting procedures can be found in the proxy materials filed with the SEC.

Positive

• Potential for improved stock price through reverse stock split
• Updated Certificate of Incorporation to align with current business needs

Negative

• Possible indication of struggling stock price
• Potential dilution of shareholder value through reverse split

Special meeting to take place virtually on August 14, 2024 at 4:00 pm ET

BOSTON, Aug. 2, 2024 /PRNewswire/ -- Ginkgo Bioworks Holdings, Inc. (NYSE: DNA, "Ginkgo"), which is building the leading platform for cell programming and biosecurity, will be holding a special meeting of shareholders virtually on August 14, 2024 at 4:00 pm ET to vote to permit, at the discretion of the Board of Directors, a reverse stock split of the issued and outstanding shares of Class A common stock and Class B common stock in a range of not less than one-for-twenty (1:20) and not more than one-for-forty (1:40), with the final ratio to be determined by the Board of Directors. Shareholders will also vote to approve Ginkgo's Amended and Restated Certificate of Incorporation, which has been updated to permit officer exculpation and remove provisions related to our merger with Soaring Eagle Acquisition Corp. and our domestication process, which are no longer relevant to our business.

Additional information regarding the special meeting, including how to vote, are available via proxy materials filed by Ginkgo with the U.S. Securities and Exchange Commission (the "SEC"), and can be found here.

About Ginkgo Bioworks

Ginkgo Bioworks is the leading horizontal platform for cell programming, providing flexible, end-to-end services that solve challenges for organizations across diverse markets, from food and agriculture to pharmaceuticals to industrial and specialty chemicals. Ginkgo Biosecurity is building and deploying the next-generation infrastructure and technologies that global leaders need to predict, detect, and respond to a wide variety of biological threats.  For more information, visit ginkgobioworks.com and ginkgobiosecurity.com, read our blog, or follow us on social media channels such as X (@Ginkgo and @Ginkgo_Biosec), Instagram (@GinkgoBioworks), Threads (@GinkgoBioworks) or LinkedIn.

Ginkgo Bioworks Contacts:

INVESTOR CONTACT:

investors@ginkgobioworks.com    

MEDIA CONTACT:

press@ginkgobioworks.com 

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SOURCE Ginkgo Bioworks

FAQ

When is Ginkgo Bioworks (DNA) holding its special shareholder meeting?

Ginkgo Bioworks (DNA) is holding its special shareholder meeting virtually on August 14, 2024, at 4:00 pm ET.

What is the main purpose of Ginkgo Bioworks' (DNA) special shareholder meeting?

The main purpose is to vote on permitting a reverse stock split of the company's Class A and Class B common stock, with a proposed ratio range of 1:20 to 1:40.

What changes are proposed in Ginkgo Bioworks' (DNA) Amended and Restated Certificate of Incorporation?

The proposed changes include permitting officer exculpation and removing outdated provisions related to the merger with Soaring Eagle Acquisition Corp. and the domestication process.

What is the proposed reverse stock split ratio for Ginkgo Bioworks (DNA)?

The proposed reverse stock split ratio for Ginkgo Bioworks (DNA) ranges from not less than one-for-twenty (1:20) to not more than one-for-forty (1:40).