other material
confidence high
sentiment negative
materiality 0.60
Ginkgo Bioworks discloses ~$74M exposure to failed Silicon Valley Bank via Zymergen subsidiary
Ginkgo Bioworks Holdings, Inc.
- Zymergen subsidiary holds ~$74M (6% of total cash) at Silicon Valley Bank.
- SVB closed and FDIC appointed receiver as of March 10, 2023.
- Company has no other material accounts or credit lines with SVB.
- Cash reference point: $74M based on Dec 31, 2022 balance.