A trust controlled by 23andMe co-founder Anne Wojcicki has formally filed to take the genetic testing firm private, offering to purchase all shares of the firm for 40 cents per share, the current stock price.
The deal, which Wojcicki had previously telegraphed, was made public in a filing with the Securities and Exchange Commission on Wednesday; the proposal was made to a special committee of 23andMe’s board on Monday. The filing said the deal would need to be approved by the committee and 23andMe’s shareholders.
“I continue to be excited about our mission of improving the health of millions of people worldwide through the power of genetics,” Wojcicki wrote in a letter accompanying the filing. “We have built a highly valuable, broadly recognized consumer brand with one of the world’s largest and most diverse genetic datasets. As CEO, I remain as committed as ever to our long-term vision of becoming a global leader in genetics and establishing genetics as a mainstay of healthcare ecosystems worldwide.”
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