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