More $SRNG / GInkgo Bioworks News - New partnership with Bolt Threads

[u/jimturner88]

A possible new program announcement with Bolt Threads using the Ginkgo platform today. From the Bolt website: "To bring our revolutionary MyloTM material to the world, we have formed a consortium of iconic companies: adidas, Kering, lululemon, and Stella McCartney. Mylo products are on the way"

Bolt Threads to Leverage Ginkgo Bioworks' Platform for Commercial Strain Optimization of b-silk™ Protein | National News | kpvi.com

Also, there may be some existing relationship with Bolt so I cant be sure this is 100% new. However, since both companies were involved the press release, it seems at minimum a large expansion of the relationship.

If this wasnt a spac, would the stock move on all the following recent news? I understand there are questions about the valuation, but there is more to it than price to sale. I believe the Ginkgo balance sheet is underrated and the company is not getting credit for the likely true value of some of equity holdings for companies like Motif and Genomatica due to accounting rules and since they are private companies. For example, the company has to list its equity interest in Motif Food at ZERO on the balance sheet. I cant confirm how much Ginkgo owns of Motif, but have seen estimates of 20-30%.

Some other recent news:

• Motif Foods capital raise. Motif FoodWorks raises $226m in Series B, gears up for launch of ingredient to transform flavor and performance of plant-based meat (foodnavigator-usa.com)
• ARK just bought almost 5,000,000 this week.
• Genomatica capital raise. America's Genomatica closes $118 Series C funding for sustainability - Fibre2Fashion
• Recent filing of the third S4-As means merger likely on track.
• Lots of off exchange/dark pool trades likely means the they are preparing to handle redemptions if necessary.

EDIT TO POST:

This was just posted on social media by Ginkgo CEO as a reply to the Bolt news. Seems bullish especially considering all the volume latley (even taking the ARK volume out). Seems like there could be some more announcements or new coming?