Anne Wozikki participates in the WSJ Magazine Style and Tech Dinner on 15 March 2023 at Attarton, California.
Kelly Sulivan | Getty Image Entertainment | Getty images
23andme CEO Anne Wojikki and New Mountain Capital have proposed to take a private testing company to private. Admission With the US Securities and Exchange Commission.
Wojcicki and New Mountain have offered to receive all the outstanding stocks of 23andme in cash for $ 2.53 per share, or about $ 74.7 million equity value. The company’s stock closed at $ 2.42 on Friday with a market cap of $ 65 million on Friday.
This proposal comes after a turbulent year for 23andme, the stock lost more than 80% of its value in 2024. In January, company Announced Plan to find Strategic optionWhich may include the sale of the company or its property, a restructuring or a business combination.
23andme has a special committee of independent directors to evaluate potential routes. The company appointed three new independent directors in its board in October after all its previous directors. Suddenly resigned Pre -month. The Special Committee has to approve the proposal of Wojcicki and New Mountain.
“We believe that our proposal offers a compelling price and immediate liquidity to the public stockholders of the company,” the managing director of private equity in New Mountain and Matthew Holt wrote in a letter to the Special Committee on Thursday.
Wojcicki earlier submitted a proposal Take the company private In July for 40 cents per share, but it was rejected By the Special Committee, in the part because the members said that it lacked committed financing and did not provide a premium for the closing price at that time.
Wojcicki and the new mountain transactions are ready to provide safe loan financing to fund 23andme through the conclusion of the transaction, the filing said. New Mountain is located in New York and according to it the management has assets of $ 55 billion Website,
23andme refused to comment.
Watch: The rise and fall of 23andme
