23andMe CEO plans to take company private

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MedTech Dive

  • 23andMe CEO Anne Wojcicki plans to take the DNA testing company private, according to a Wednesday filing with the U.S. Securities and Exchange Commission. 
  • Wojcicki currently owns more than 20% of the firm’s total outstanding shares, and about 49% of voting rights. She plans to acquire all outstanding shares of the company. 
  • The CEO wants to maintain control of 23andMe and would not be willing to support any alternative transaction, according to the filing. 

23andMe, which makes consumer genetic tests, has been looking at strategic alternatives as its shares have fallen. The firm went public in 2021 through a merger with a special purpose acquisition company valuing 23andMe at $3.5 billion. Its stock has traded below a dollar this year, down from its IPO price of $10 per share.

23andMe has…
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