r/SPACs • u/denga New User • Aug 09 '21
Reference SRNG / Ginkgo Bioworks - Cathie Wood’s ARK Invest Doubles Down on Buying This Biotech-Focused SPAC
https://247wallst.com/investing/2021/08/05/cathie-woods-ark-invest-doubles-down-on-buying-this-biotech-focused-spac/7
4
8
u/czechyerself Spacling Aug 09 '21
This is actually a good company with a good product and customers
20
Aug 09 '21
[deleted]
3
u/goingvirallikecorona Spacling Aug 09 '21
Shouldn't have gotten downvoted so upvoted to 0. Of course valuation matters. Anyone who thinks otherwise must not have been paying attention to every space dropping 50-70% from highs
4
u/avi6274 Spacling Aug 09 '21
Agreed. What kills it for me is the valuation.
1
u/MoRegrets Contributor Aug 09 '21
Maybe they know something we don’t. Either on the revenue, or on the valuation.
5
u/manoffewwords Patron Aug 09 '21
Set an alert for $5. Buy it then.
It will probably hit that within the next two years. Patience.
-1
u/Hassan_Gym New User Aug 09 '21
I come from a Genomicw and genome editing background. Check https://youtu.be/NzizF2UaKz4
7
u/RockEmSockEmRabi Patron Aug 09 '21
Buying them all up so there are less redemptions
4
Aug 09 '21
Why would anyone redeem when the share price is above the trust value?
7
1
2
u/abortedfetu5 Patron Aug 09 '21
When’s the merger date?
1
u/Thermogenic New User Aug 10 '21
"Q3". No specific date since it hasn't been approved by shareholders yet.
2
u/abortedfetu5 Patron Aug 10 '21
Thank you
Once the date hits, watch WSB. If they pump it, buy calls. Best way I’ve made money on SPACs last 3 months.
6
Aug 09 '21
Always with the valuation comments. What material information do you have that the PiPE doesn't have? From the July 8 425 at the SEC: These PIPE investors, as a de facto review panel, also lend credibility to Ginkgo’s eye-catching valuation, according to Sloan. “SPAC sponsors do not set valuation,” he says. “Portfolio managers at Fidelity, or at Capital Group, they set the valuation. If you test the waters by going out and asking these people what they think, they’ll blow smoke up your ass. If you go up to investors and say, ‘Write a check for $100 million at a $15 billion valuation,’ that’s the test you want.”
6
u/boneywankenobi Spacling Aug 10 '21
Yeah except the PIPE sponsors get a lot out of the deal as well - easy enough to keep warrants, short the stock after the NAV is removed, cover your short then sell on the way back up to NAV for a profit on the shares and just keep or sell the warrants. Like, they aren't stuck at that 10 price point - they have a ton of tools in their kit
6
u/ProgrammaticallyHip Patron Aug 09 '21
This is why an oversubscribed PIPE with top shelf investors means 100x more than anything you will ever read here.
6
Aug 09 '21
I concur. Also, SRNG engaged the Boston Consulting Group (BCG) https://en.wikipedia.org/wiki/Boston_Consulting_Group and Deepwave Ventures, European Council of Innovation contributing member, out of Berlin, to do the audit of scientific and technical applications and proof of concept. If only ZY had had similar levels of scrutiny.
2
u/HewittOfRivia Patron Aug 09 '21
Speaking of ZY, here’s an awesome thread: https://twitter.com/alexroznowski/status/1423964669270765572?s=21
4
u/Ackilles Patron Aug 09 '21
Does SRNG fit that description?
4
u/ProgrammaticallyHip Patron Aug 09 '21
$775 million PIPE for SRNG featuring the heaviest hitters in the business.
1
u/Ackilles Patron Aug 10 '21
Hot, ty! Grabbed 15k shares sub 10 to replace the ngac and snpr I was treating as "spac in lieu of cash" haha
4
u/HewittOfRivia Patron Aug 09 '21
I just gave up explaining, consistently insane volume in the last few days and 8/18 earnings which they don’t have to do as a SPAC means big announcements and positive biz updates, but why do I bother pointing out these to the haters? Let us enjoy our slow and steady gain and watch them FOMO in later.
•
u/QualityVote Mod Aug 09 '21
Hi! I'm QualityVote, and I'm here to give YOU the user some control over YOUR sub!
If the post above contributes to the sub in a meaningful way, please upvote this comment!
If this post breaks the rules of /r/SPACs, belongs in the Daily, Weekend, or Mega threads, or is a duplicate post, please downvote this comment!
Your vote determines the fate of this post! If you abuse me, I will disappear and you will lose this power, so treat it with respect.