Cathie Wood Stake in $17.5 Billion Harry Sloan SPAC Hits 11% (1)

Cathie Wood’s ARK Investment Management LLC now has a nearly 11% stake in a blank-check company backed by former Hollywood executive Harry Sloan.

Ark’s daily trading statement shows it added another 1.2 million shares of Soaring Eagle Acquisition Corp. on Tuesday. That takes the firm’s total holdings to nearly 18.5 million shares across the flagship ARK Innovation ETF (ticker ARKK) and the ARK Genomic Revolution ETF (ARKG), according to data compiled by Bloomberg.

The special-purpose acquisition company run by Sloan agreed in May to a $17.5 billion merger with cell-engineering company Ginkgo Bioworks Inc. The ...