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Feb 4, 2021

23andMe Goes Public as a $3.5 Billion Company

One week ago, I published an article suggesting that Consumer DNA-testing company 23andMe Inc. is in talks to go public through a roughly $4 billion deal …” (You can see that article at http://bit.ly/3cFriIR.) Now the acquisition has been completed.

According to an article today an the Bloomberg News Service:

“Consumer DNA-testing company 23andMe Inc. has entered into a deal to merge with VG Acquisition Corp., a special purpose acquisition company founded by billionaire Richard Branson.”

“The agreement values the Silicon Valley company at $3.5 billion, with Chief Executive Officer Anne Wojcicki and Branson each investing $25 million into a $250 million private investment in public equity offering.

“Other investors include Fidelity Management & Research Company LLC, Altimeter Capital, Casdin Capital and Foresite Capital. Current shareholders of 23andMe will own 81% of the combined company, with the deal expected to close in the second quarter of 2021. A merger with a special purpose acquisition company, or SPAC, allows 23andMe to go public without the uncertainty or holding an initial public offering.”

There is more to the article, including comments from 23andMe Chief Executive Officer Anne Wojcicki, at: http://yhoo.it/39NguXx.

Feb 4, 2021

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