Conversion of Ginkgo Bioworks shares
In September, Biotech went public through a merger agreement with SPAC. Ginkgo shares were converted into the shares of a new public company – the number of shares increased by 49.08 times, and their price decreased by 49.08 times.
Ginkgo Bioworks produces bacteria for industrial purposes and is currently leading the synthetic biology market. In September, Ginkgo Bioworks went public through a SPAC company with a DNA ticker.
Ginkgo shares were converted into shares of a new public company with a coefficient of 49.08x. In other words, the company implemented a stock split: the number of issued shares increased by 49.08 times, and their price decreased by 49.08 times.
A similar conversion has been implemented on the United Traders platform. In October 2020, when we first offered to invest in Ginkgo Bioworks, the price per share was $138.6. As a result of conversion, the price per share decreased to $2.82. When the company went public through SPAC, its shares were valued at $10. Thus, the return on investment at the pre-IPO stage to the company's exit point ($10) is 254%.
We'd like to remind you that for those, who invest at the pre-IPO stage, there is a lock-up period of 180 days after the placement date, expiring on March 16, 2022. After that, we will start transferring shares to our brokerage account.
