Ginkgo Regains Compliance with NYSE Minimum Bid Price Requirement
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) has regained compliance with the NYSE's minimum bid price requirement. The company received confirmation on September 3, 2024, that its Class A common stock had maintained a closing bid price at or above $1.00 for the required period. This follows a 1-for-40 reverse stock split implemented on August 20, 2024, to address the previous non-compliance notification received on May 7, 2024.
Simultaneously, Ginkgo received notice that the NYSE will delist the company's public warrants due to abnormally low trading price levels. These warrants, originally issued in connection with Soaring Eagle Acquisition Corp's IPO, will be suspended from trading immediately. However, Ginkgo's Class A Common Stock will continue to trade on the NYSE under the symbol 'DNA' unaffected by this warrant delisting.
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) ha ripristinato la conformità con il requisito del prezzo minimo di offerta della NYSE. L'azienda ha ricevuto conferma il 3 settembre 2024 che le sue azioni ordinarie di Classe A hanno mantenuto un prezzo di chiusura pari o superiore a $1,00 per il periodo richiesto. Questo è seguito da uno split azionario inverso 1-per-40 attuato il 20 agosto 2024, per affrontare la precedente notifica di non conformità ricevuta il 7 maggio 2024.
Contestualmente, Ginkgo ha ricevuto notifica che la NYSE rimuoverà i warrant pubblici della società a causa di livelli di prezzo di scambio anormalmente bassi. Questi warrant, originariamente emessi in connessione con l'IPO di Soaring Eagle Acquisition Corp, saranno immediatamente sospesi dalla negoziazione. Tuttavia, le azioni ordinarie di Classe A continueranno a essere scambiate sulla NYSE con il simbolo 'DNA', senza essere influenzate da questa rimozione dei warrant.
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) ha recuperado la conformidad con el requisito de precio mínimo de oferta de la NYSE. La compañía recibió confirmación el 3 de septiembre de 2024, de que sus acciones ordinarias Clase A habían mantenido un precio de cierre de oferta de $1.00 o más durante el periodo requerido. Esto sigue a un split de acciones al revés 1 por 40 implementado el 20 de agosto de 2024, para abordar la notificación previa de no conformidad recibida el 7 de mayo de 2024.
Simultáneamente, Ginkgo recibió un aviso de que la NYSE deslistará los warrants públicos de la compañía debido a niveles de precio de negociación anormalmente bajos. Estos warrants, emitidos originalmente en conexión con la OPI de Soaring Eagle Acquisition Corp, serán suspendidos de la negociación de inmediato. Sin embargo, las acciones ordinarias Clase A de Ginkgo continuarán comerciándose en la NYSE bajo el símbolo 'DNA', sin verse afectadas por este desliste de warrants.
깅코 바이오웍스 홀딩스, Inc. (NYSE: DNA)는 NYSE의 최소 입찰 가격 요구 사항을 재준수했습니다. 이 회사는 2024년 9월 3일에 클래스 A 보통주의 종가가 요구된 기간 동안 $1.00 이상의 가격을 유지했음을 확인 받았습니다. 이는 2024년 8월 20일에 시행된 40대 1 주식 액면 분할에 따라 발생한 것으로, 2024년 5월 7일에 받은 이전 비준수 통보에 대한 조치입니다.
동시에, 깅코는 NYSE가 비정상적으로 낮은 거래 가격 수준으로 인해 회사의 공공 워런트를 상장 폐지할 것이라는 통지를 받았습니다. 이 워런트들은 원래 Soaring Eagle Acquisition Corp의 상장 공모(IPO)와 관련하여 발행된 것이며, 즉시 거래가 중단될 것입니다. 하지만 깅코의 클래스 A 보통주는 'DNA'라는 기호로 NYSE에서 계속 거래될 것이며, 이 워런트 상장 폐지의 영향을 받지 않을 것입니다.
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) a retrouvé sa conformité avec l'exigence de prix d'offre minimum de la NYSE. La société a reçu une confirmation le 3 septembre 2024 que ses actions ordinaires de Classe A avaient maintenu un prix d'offre de clôture à ou au-dessus de 1,00 $ pendant la période requise. Cela fait suite à un split inversé d'actions 1 pour 40 mis en œuvre le 20 août 2024, pour répondre à la notification de non-conformité reçue le 7 mai 2024.
En même temps, Ginkgo a reçu un avis indiquant que la NYSE délistera les warrants publics de la société en raison de niveaux de prix de négociation anormalement bas. Ces warrants, initialement émis en lien avec l'IPO de Soaring Eagle Acquisition Corp, seront immédiatement suspendus de la négociation. Cependant, les actions ordinaires de Classe A de Ginkgo continueront d'être négociées à la NYSE sous le symbole 'DNA', sans être affectées par ce delisting des warrants.
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) hat die Einhaltung der Mindestangebotspreisanforderungen der NYSE wiedererlangt. Das Unternehmen erhielt am 3. September 2024 die Bestätigung, dass die Class A Stammaktien einen Schlussangebotspreis von mindestens 1,00 $ über den erforderlichen Zeitraum gehalten haben. Dies folgt auf einen 1-für-40 Reverse-Aktiensplit, der am 20. August 2024 durchgeführt wurde, um die vorherige Benachrichtigung über die Nichteinhaltung vom 7. Mai 2024 zu beheben.
Gleichzeitig erhielt Ginkgo die Mitteilung, dass die NYSE die öffentlichen Warrants des Unternehmens delisten wird aufgrund abnorm niedrigem Handelspreis. Diese Warrants, die ursprünglich im Rahmen des IPO von Soaring Eagle Acquisition Corp ausgegeben wurden, werden sofort vom Handel ausgesetzt. Die Class A Stammaktien von Ginkgo werden jedoch weiterhin unter dem Symbol 'DNA' an der NYSE gehandelt, ohne von dieser Delisting der Warrants betroffen zu sein.
- Regained compliance with NYSE minimum bid price requirement
- Class A common stock continues to trade on NYSE under 'DNA' symbol
- 1-for-40 reverse stock split implemented to meet compliance
- Public warrants to be delisted from NYSE due to abnormally low trading price
Insights
Ginkgo Bioworks' regaining compliance with NYSE's minimum bid price requirement is a positive development for the company's financial stability. The 1-for-40 reverse stock split effectively boosted the share price above the $1.00 threshold, averting the risk of delisting. This move preserves Ginkgo's access to capital markets and maintains investor confidence. However, it's important to note that reverse splits don't change the company's fundamental value.
The delisting of warrants due to "abnormally low" trading prices suggests investor interest in these securities. This could indicate reduced expectations for future stock price appreciation beyond the warrant exercise price. Investors should focus on Ginkgo's operational performance and growth prospects rather than these technical listing issues.
Ginkgo's compliance with NYSE requirements is a short-term stabilizer for the stock. However, the need for a significant reverse split (
Looking ahead, Ginkgo needs to demonstrate tangible progress in its cell programming and biosecurity initiatives to justify its valuation and attract long-term investors. The market will be closely watching for improvements in revenue growth, partnerships and technological advancements in the coming quarters.
As previously disclosed, Ginkgo was notified on May 7, 2024 that its Class A common stock failed to maintain a minimum average closing price that was above
Coinciding with the notification of Ginkgo's Class A common stock compliance, Ginkgo also received notice from NYSE on September 3, 2024 that it will commence proceedings to delist the Company's public warrants which were previously issued in connection with Soaring Eagle Acquisition Corp's initial public offering (the "Warrants"). These Warrants will be immediately suspended from trading due to "abnormally low" trading price levels pursuant to 802.01D of the NYSE Listed Company Manual. Trading in the Ginkgo's Class A Common Stock will be unaffected and will continue on the NYSE under the symbol "DNA".
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.
Forward-Looking Statements of Ginkgo Bioworks
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including the Company's ability to continue to comply with applicable listing standards of the NYSE. These forward-looking statements generally are identified by the words "believe," "can," "project," "potential," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our ability to continue to comply with applicable listing standards of the NYSE, (ii) volatility in the price of the Company's securities due to a variety of factors, including changes in the competitive and highly regulated industries in which the Company operates and plans to operate, variations in performance across competitors, and changes in laws and regulations affecting the Company's business, (iii) the ability to implement business plans, forecasts, and other expectations, and to identify and realize additional business opportunities, (iv) the risk of downturns in demand for products using synthetic biology, (v) the uncertainty regarding the demand for passive monitoring programs and biosecurity services, (vi) changes to the biosecurity industry, including due to advancements in technology, emerging competition and evolution in industry demands, standards and regulations, (vii) the outcome of any pending or potential legal proceedings against the Company, (viii) our ability to realize the expected benefits from and the success of our Foundry platform programs, (ix) our ability to successfully develop engineered cells, bioprocesses, data packages or other deliverables, and (x) the product development or commercialization success of our customers. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the Company's annual report on Form 10-K filed with the
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SOURCE Ginkgo Bioworks
FAQ
What happened to Ginkgo Bioworks' (DNA) NYSE listing status on September 3, 2024?
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Will the delisting of warrants affect Ginkgo Bioworks' (DNA) common stock trading?
