Anne Wojcicki attended a WSJ magazine style and technology dinner in Atherton, California on March 15, 2023.
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23andme According to Friday Register Work with the SEC.
Wojcicki and New Mountain offer to acquire 23AndMe’s cash-out shares at $2.53 per share, or about $74.7 million in stock value. The company’s shares closed at $2.42 on Friday, with a market cap of about $65 million.
The quote comes after a year of turbulence in 23andme, with the stock losing more than 80% of its value in 2024. In January, the company Announce Plan exploration Strategic Alternativeswhich may include the sale of a company or its assets, restructuring or business portfolio.
23AndMe has a special committee of independent directors to assess potential path forward. The company appointed three new independent directors in October, after all seven directors Resign suddenly last month. The Special Committee must approve the proposals of Wojcicki and New Mountain.
“We believe that our proposal provides compelling value and direct liquidity to the company’s public shareholders,” Matthew Holt, managing director and president of private equity at New Mountain, wrote in a letter to the special committee on Thursday. .
Wojcicki has submitted a suggestion before Private company 40 cents per share in July, but this is Rejected It consisted of a special committee, partly because members said it lacked the promised financing and did not provide a closing premium at the time.
The document says Wojcicki and New Mountain are willing to provide secured debt financing for 23AndMe’s operations through the closing of the transaction. New Mountain is headquartered in New York and has $55 billion in assets. website.
23andme declined to comment.
watch: The rise and fall of 23andme
