Ginkgo Bioworks went public: how it affects the UTEX-traded futures

What happened

Ginkgo Bioworks, a U.S. manufacturer of synthetic bacteria with industrial applications, went public by merging with Soaring Eagle Acquisition Corp., a SPAC.

Why it is important

Following the merger, Ginkgo Bioworks shares acquired are converted into shares of the public company (DNA ticker) in a certain ratio. We are awaiting information on the conversion rate from Ginkgo Bioworks. 

According to the rules of trading, a listing via a SPAC merger triggers the expiration process for the futures.

What’s next

Please wait for further updates on how the conversion of Ginkgo Bioworks shares will actually affect the futures price, when it will expire, and at what price futures contracts in users’ accounts will be sold. At present, trading in futures continues as usual.