Anne Wojcicki attended the style of WSJ magazine and a technological dinner in Atherton, California, March 15, 2023.
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23andm CEO Anne Wojcicki and New Mountain Capital submitted a proposal to take the private besieged genetic test company, according to a Friday deposit With the American Commission for Securities and Exchange.
Wojcicki and New Mountain proposed to acquire all cash actions of 23andm in cash for $ 2.53 per share, a capital value of approximately $ 74.7 million. The company’s shares closed $ 2.42 on Friday with a market capitalization of around $ 65 million.
The offer comes after a turbulent year for 23 and the stock losing more than 80% of its value in 2024. In January, the company announcement plans to explore strategic alternativesWho could include a sale of the company or its assets, a restructuring or a combination of companies.
23andme has set up a special committee of independent administrators to assess the potential paths. The company has appointed three new independent directors to its board of directors in October after its seven previous administrators suddenly resigned The previous month. The special committee must approve the proposal of Wojcicki and New Mountain.
“We believe that our proposal offers convincing value and immediate liquidity to public shareholders of the company,” wrote Wojcicki and Matthew Holt, managing director and president of the Private Equity in New Mountain on Thursday.
Wojcicki had previously submitted a proposal to Take the private company For 40 cents per share in July, but it was rejected By the Special Committee, in part because the members declared that it lacked funded funding and had not provided a bonus at the closing price at the time.
Wojcicki and New Mountain are ready to provide guaranteed debt funding to finance the operations of 23andme thanks to the closure of the transaction, said the file. New Mountain is based in New York and has 55 billion dollars in assets under management, according to its website.
23andme refused to comment.
