In a regulatory filing, Gingko Bioworks (DNA) said it is aware of the closure of Silicon Valley Bank (SIVB) and appointment of the Federal Deposit Insurance Corporation as receiver. Only the cash balance of the company’s wholly-owned subsidiary Zymergen Inc. is held in deposit accounts at SVB, representing approximately $74M or 6% of the company’s cash and cash equivalents as of December 31, 2022. The company does not maintain any other material accounts or lines of credit with SVB.
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