Ginkgo Bioworks Holdings Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
DNA$11.29+13.4%Stored close · as of Nov 6, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2024-06-30; filed 2024-08-08.
0001628280-24-036231
Item 1A. Risk FactorsCurrent report: 10-Q
Period ended 2024-09-30; filed 2024-11-12.
0001628280-24-047284
Item 1A. Risk FactorsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 6 previous paragraphs and 3 current paragraphs.
2 unchanged; 1 reworded; 0 added; 3 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Removed paragraphs (3)
Previous report
An investment in our securities involves a high degree of risk. You should carefully consider the following risk factors, in addition to all of the information regarding risk factors that appears in Part I, Item 1A. “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on February 29, 2024, before making an investment decision. Our business, prospects, financial condition or operating results could decline due to any of these risks and, as a result, you may lose all or part of your investment.
Previous report
If we fail to meet the continued listing standards of the NYSE, it could result in a delisting of our Class A shares.
Previous report
On May 7, 2024, we received a notice from the NYSE that, because the average closing price for our Class A common stock has fallen below $1.00 per share for 30 consecutive trading days, we no longer comply with the price criteria for continued listing on the NYSE. The NYSE continued listing criteria provide us with a compliance period of six months in which to regain compliance. We have taken steps to regain compliance, but if we fail to satisfy the continued listing standards of the NYSE within the six-month cure period by achieving a minimum closing stock price of $1.00 per share of our Class A common stock for 30 consecutive trading days, the NYSE may take steps to delist our Class A common stock. Such a delisting would most likely have a negative effect on the price of our Class A common stock and would impair stockholders’ ability to sell or purchase shares of our Class A common stock when they wish to do so. In the event of a delisting, we would attempt to take actions to restore our compliance with the NYSE’s listing requirements, but we can provide no assurance that any such action taken by us would allow our Class A common stock to become listed again, stabilize the market price, improve the liquidity of our Class A common stock, prevent our Class A common stock price from dropping below the NYSE minimum average closing price requirement or prevent future non-compliance with the NYSE’s listing requirements.
Reworded paragraphs (1)
Previous wording
As previously announced on May 9, 2024, in connection with the Company’s multi-year plan to reduce operational expenditures, management approved a plan for restructuring actions, including a reduction in labor expenses and a planned consolidation of certain of its facilities. Initial workforce reductions commenced in June 2024, with further reductions expected in the second half of 2024. All reductions are expected to be substantially completed in 2025, subject to compliance with applicable laws. The Company plans to consolidate certain facilities through various actions, including the consolidation of office and laboratory operations into fewer locations, subleasing unused facilities, and other related measures. While the Company aims to complete the majority of its facility consolidation actions in 2025, the actual timing may vary. The Company currently estimates the costs for the reduction in force to range from $18.0 million to $22.0 million primarily in the Cell Engineering segment and consist of one-time cash severance and related costs.
Current wording
As previously announced on May 9, 2024, in connection with the Company’s plans to reduce operational expenditures, management, with the approval of the Board of Directors, approved a restructuring plan, including a reduction in labor expenses and a planned consolidation and sublease of certain facilities. Initial workforce reductions commenced in June 2024 and continued into the third quarter, with further reductions expected in the fourth quarter of 2024 and into 2025. All reductions are expected to be substantially completed in 2025, subject to compliance with applicable laws. The Company plans to consolidate certain facilities through various actions, including combining office and laboratory operations into fewer locations, subleasing unused facilities, and has taken or plans to take other related measures. While the Company aims to complete the majority of its facility consolidation actions in 2025, the actual timing may vary, especially for subleasing unused or underutilized facilities, which may extend beyond 2025 or may not occur prior to termination of such leases, depending on market conditions. Additionally, restructuring expenses related to potential asset impairments or contract amendments or terminations for any facilities no longer in use or underutilized could be material. The Company currently estimates the costs for the reduction in force to range from $18.0 million to $22.0 million primarily in the Cell Engineering segment and consist of one-time cash severance and related costs.