23andme According to a Friday submission With the US Securities and Exchange Commission.
Wojcicki and New Mountain have offered to amass all outstanding money shares of 23 and outstanding shares of $ 2.53 per share or an equity value of approx. $ 74.7 million. The company's share closed on Friday at $ 2.42 with a market capitalization of around 65 million US dollars.
The offer takes place after a turbulent 12 months for 23Andme, with the share losing greater than 80% of its value in 2024. In January the corporate announced plans for investigation Strategic alternativesincluding a sale of the corporate or its assets, a restructuring or an organization combination.
23Andme has a special committee for independent directors to judge potential paths forward. In October, the corporate appointed three latest independent directors to his Board of Directors in spite of everything seven former directors had resigned abruptly within the previous month. The special committee has to approve Wojcicki and the New Mountain's proposal.
“We believe that our proposal offers the public shareholders of the company convincing value and immediate liquidity”, wrote Wojcicki and Matthew Holt, managing director and president of personal equity at New Mountain, in a letter to the special committee on Thursday.
Wojcicki previously submitted a proposal to take over the corporate privately in July for 40 cents per share, nevertheless it was rejected Due to the special committee, partly since the members specified, there was no defined financing and at the moment didn’t provide a premium for the closing price.
Wojcicki and New Mountain are able to enable secure debt financing to finance 23Ande activities by closing the transaction, the submission said. New Mountain relies in New York and, in line with him, has $ 55 billion in assets website.
23Andme refused to comment.
REGARD: The increase and fall of 23andme
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