BOSTON, Sept. 4,
2024 /PRNewswire/ -- Ginkgo Bioworks Holdings, Inc.
(NYSE: DNA, "Ginkgo" or the "Company"), which is building the
leading platform for cell programming and biosecurity, today
announced that it had received a letter from the New York Stock
Exchange ("NYSE") on September 3,
2024 stating that because Ginkgo's Class A common stock had
a closing bid price at or above $1.00
on the last day of August and the Company's 30-day trading average
closed above $1.00, Ginkgo had
regained compliance with Section 802.01C of the NYSE Listed Company
Manual.
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
$1.00 per share over a consecutive 30
trading-day period, as required by the NYSE Listed Company Manual.
Following a 1-for-40 reverse stock split, the Class A common stock
opened for trading on the NYSE on a split adjusted basis on
August 20, 2024.
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 U.S. Securities
and Exchange Commission (the "SEC") on February 29, 2024, the Company's most recent
quarterly report on Form 10-Q, and other documents filed by the
Company from time to time with the SEC. These filings identify and
address other important risks and uncertainties that could cause
actual events and results to differ materially from those contained
in the forward-looking statements. Forward-looking statements speak
only as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and the Company
assumes no obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. The Company does not give any
assurance that it will achieve its expectations.
Ginkgo Bioworks Contacts:
INVESTOR CONTACT:
investors@ginkgobioworks.com
MEDIA CONTACT:
press@ginkgobioworks.com
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SOURCE Ginkgo Bioworks