Anne Wojcicki is the co-founder and CEO of 23andme Inc. during the South (SXSW) Festival at the South (SXSW) Festival in Southwest (SXSW) on Friday, March 10, 2023.
Jordan Vonderhaar | Bloomberg | Getty Images
23andmeOn Monday, the special committee of independent directors rejected CEO Anne Wojcicki’s request to privatize the troubled genetic testing company.
Wojcicki filed a proposal to the committee on Sunday and proposed to acquire all outstanding shares of the company at 41 cents per share submit Work with the SEC.
The stock fell 33% on Monday to close at $1.47, down more than 99% from its 2021 peak.
Wojcicki and New Mountain Capital submitted previous bids In February Push the company for $2.53 per share. The document said that a few days later, Johor Bahru told Wojcicki that it was no longer interested in participating in a potential acquisition and would stop the discussion.
23AndMe’s special committee said Wojcicki’s proposal was 84% ​​lower than the previous offer and decided not to move forward. release on Monday.
The director said: “The Special Committee has consulted with the financial and legal counsel for Ms. Waggicky’s acquisition proposal and has unanimously decided to reject the proposal.”
A representative of 23AndMe declined to comment.
Follow the turbulent 23andme in 2024 Announce January plan exploration Strategic Alternativeswhich may include the sale of a company or its assets, restructuring or business portfolio.
Wojcicki has submitted a suggestion before Private company 40 cents per share in July, but 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.
watch: The rise and fall of 23andme
