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Update: 23andMe CEO Mulls Plan to Take Company Private
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Update: 23andMe CEO Mulls Plan to Take Company Private
Apr 18, 2024 6:50 AM

09:35 AM EDT, 04/18/2024 (MT Newswires) -- (Updates with details throughout.)

23andMe Holding Co. ( ME ) Chief Executive Anne Wojcicki has told board members she is considering a plan to acquire the company in a go-private transaction, the company said Thursday in a filing with the US Securities and Exchange Commission.

The company said Wojcicki is working with advisors to acquire all of the outstanding shares of 23andMe that she does not currently own, and intends to begin speaking to potential partners and financing sources. It also said she indicated she intends to maintain control of the company and would not be willing to support any alternative transaction.

Wojcicki currently owns 20% of 23andMe's outstanding shares, which entitles her to approximately 49% of the voting power.

Shares of 23andMe were up nearly 32% in recent trading.

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