DESCRIPTION OF PRIVATE PLACEMENTS OF COMMON STOCK
The Company was originally incorporated as a Cayman Islands exempted company in October 2020 as a special purpose acquisition company, formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses. We were originally known as Soaring Eagle Acquisition Corp. (“SRNG”). SRNG completed its IPO in February 2021. SRNG (and after the Domestication as described below, “New SRNG”), previously entered into the Agreement and Plan of Merger dated as of May 7, 2021, by and among SRNG, SEAC Merger Sub Inc., a wholly owned subsidiary of SRNG (“Merger Sub”), and Ginkgo Bioworks, Inc. (“Old Ginkgo”) (as it may be amended and/ or restated from time to time, the “Merger Agreement”).
On September 15, 2021, SRNG filed a notice of deregistration with the Cayman Islands Registrar of Companies, together with the necessary accompanying documents, and filed a certificate of incorporation and a certificate of corporate domestication with the Secretary of State of Delaware, pursuant to which SRNG was domesticated and continued as a Delaware corporation, under the name of “Soaring Eagle Acquisition Corp.” (the Domestication”).
As a result of, and upon the effective time of the Domestication, among other things, (1) each of the then issued and outstanding Class B ordinary shares, par value $0.0001 per share, of SRNG automatically converted, on a one-for- one basis, into a Class A ordinary share, par value $0.0001 per share, of SRNG (a “SRNG Class A ordinary share”); (2) immediately following the conversion described in clause (1), each of the then issued and outstanding SRNG Class A ordinary shares automatically converted, on a one-for-one basis, into a share of Class A common stock, par value $0.0001 per share, of New SRNG (the “New SRNG Class A common stock”); (3) each of the then issued and outstanding redeemable warrant of SRNG (the “SRNG warrants”) automatically converted into a redeemable warrant to acquire one share of New SRNG Class A common stock (the “New SRNG warrants”); and (4) each of the then issued and outstanding units of SRNG that had not been previously separated into the underlying SRNG Class A ordinary shares and underlying SRNG warrants upon the request of the holder thereof (the “SRNG units”), were cancelled and entitled the holder thereof to one share of New SRNG Class A common stock and on-fifth of one New SRNG warrant. No fractional shares will be issued upon exercise of the New SRNG warrants.
On September 16, 2021, as contemplated by the Merger Agreement, New SRNG consummated the merger transaction contemplated by the Merger Agreement, whereby Merger Sub merged with and into Old Ginkgo, with the separate corporate existence of Merger Sub ceasing and Old Ginkgo being the surviving corporation and a wholly owned subsidiary of New SRNG (the “Merger” and, together with the Domestication, the “Business Combination”). In connection with the consummation of the Business Combination, New SRNG changed its name to “Ginkgo Bioworks Holdings, Inc.” The shares of New SRNG Class A common stock and New SRNG warrants described above became shares of Class A common stock or Ginkgo warrants, as applicable, upon consummation of the Merger.
On April 1, 2022, we completed the acquisition of FGen, a company organized under the laws of Switzerland, pursuant to the FGen Purchase Agreement, pursuant to which Buyer acquired all of the capital stock of FGen (the “FGen Acquisition”), resulting in FGen becoming our indirect, wholly-owned subsidiary. We acquired all of the outstanding equity interests of FGen for aggregate consideration consisting of (i) $17.5 million, subject to certain adjustments pursuant to the FGen Purchase Agreement, made up of an aggregate of 4,051,107 unrestricted shares of Ginkgo Class A common stock issued at the closing of the FGen Acquisition, and (ii) certain contingent consideration payable upon the achievement of certain milestones and other circumstances pursuant to the terms and conditions of the FGen Purchase Agreement.
On June 1, 2022, we acquired substantially all of the assets of Bitome, Inc. (“Bitome”), a privately-held company with an integrated metabolite monitoring platform that is expected to support accelerated product development timelines across Ginkgo’s portfolio of cell programs, pursuant to an Asset Purchase Agreement, dated as of June 1, 2022 (the “Bitome Purchase Agreement”), by and between Bitome and Ginkgo Bioworks, Inc. The
22