Anne Wojcicki attends the style and technology dinner of WSJ magazine in Atherton, California, on March 15, 2023.
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23 and The CEO Anne Wojcicki and New Mountain Capital have presented a proposal to take the company of genetic tests in conflict in private, according to a Friday presentation before the US stock and values commission. UU.
Wojcicki and New Mountain have offered to acquire the cash actions of 23Andme for $ 2.53 per share, or a capital value of approximately $ 74.7 million. The company's shares closed to $ 2.42 on Friday with a market capitalization of approximately $ 65 million.
The offer occurs after a turbulent year for 23Andme, with the shares losing more than 80% of its value in 2024. In January, the company announced plans to explore strategic alternatives, which could include a sale of the company or its assets, A restructuring or a business combination.
23Andme has a special committee of independent directors to evaluate possible paths forward. The company appointed three new independent directors for its Board in October after the seven previous directors abruptly resigned the previous month. The special committee has to approve the proposal of Wojcicki and New Mountain.
“We believe that our proposal provides a convincing value and immediate liquidity to the company's public shareholders,” Wojcicki and Matthew Holt, managing director and president of private capital in New Mountain, wrote in a letter to the special committee on Thursday.
Wojcicki previously presented a proposal to take the company in private for 40 cents per share in July, but was rejected by the special committee, partly because the members said that it lacked compromised financing and that it did not provide a premium at the closing price in That moment.
Wojcicki and New Mountain are willing to provide guaranteed debt financing to finance 23Andme's operations through the closure of the transaction, according to the presentation. New Mountain is based in New York and has $ 55 billion of assets under administration, according to its website.
23 And me declined to comment.
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