Ashley Caputo reports via CNBC: 23andMe CEO Anne Wojcicki is considering a proposal to take the genetic testing company private after the company's stock price has fallen more than 95% from its 2021 high. Wojcicki is working with advisers and plans to discuss potential funding sources and partners, according to a filing with the Securities and Exchange Commission late Wednesday. She said she “wants to maintain control” of the company and “does not intend to support any alternative transaction,” the filing said. […] In November, 23andMe received a letter of deficiency from the Nasdaq Listing Qualification Department, which said it had 180 days to return its stock price above $1. In late March, the company's board established a “special committee” to help consider options that could increase the stock price.
Thursday's press release said the committee was aware of Wojcicki's interest in acquiring all of 23andMe's outstanding stock. According to the release, Mr. Wojcicki owns more than 20% of the company's outstanding shares, which represents approximately 49% of the voting rights. “The Special Committee will carefully consider Mr. Wojcicki's proposal, if it becomes public, and evaluate it against other available strategic alternatives, including continuing to operate as a public company,” the committee said. stated in the release. “The special committee is committed to acting in the best interest of 23andMe and its shareholders.” He said there was “no guarantee” that it would result in a
