Equity

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Equity

10. Equity

Equity Financings

“At-the-Market” Offerings

On October 25, 2021, the Company entered into a Sales Agreement, or the 2021 Sales Agreement, with SVB Leerink LLC (now known as Leerink Partners LLC), or Leerink Partners, pursuant to which the Company may sell shares of the Company’s common stock, from time to time, through an “at the market” equity offering program under which Leerink Partners will act as sales agent. The shares of common stock sold pursuant to the 2021 Sales Agreement will be issued pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-241692), for aggregate gross sales proceeds of up to $75.0 million.

During the year ended December 31, 2022, the Company sold 774,544 shares of its common stock pursuant to the 2021 Sales Agreement for aggregate net proceeds of $2.1 million, after deducting commissions and other transaction costs.

During the six months ended June 30, 2023, the Company sold no shares of its common stock pursuant to the 2021 Sales Agreement.

Warrants

During the three and six months ended June 30, 2023, there were no warrants issued, exercised, or canceled. See Note 10 to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2022 for further discussion of the terms related to the Company’s warrants.

	Number of Warrants
	Equity classified		Liability classified		Total		Weighted average exercise price
Outstanding at June 30, 2023		2,236,326		28,991,953		31,228,279	$	1.53

Reserved Shares

The Company has authorized shares of common stock for future issuance as of June 30, 2023 as follows:

Exercise of warrants	31,228,279
Shares available for future stock incentive awards	8,073,729
RSUs reserved for issuance	125
Unvested restricted stock units	2,411,792
Outstanding common stock options	20,114,139
Accrued Ginkgo Bioworks Holdings, Inc. milestone award	1,339,285
Total	63,167,349