23andMe CEO Anne Wojcicki has said she is no longer open to considering other buyers for the company in a securities filing Monday, the latest in her monthslong attempt to take the turbulent genetics testing company private.
Wojcicki first proposed to take the company private in April, submitting a proposal later this summer to buy all outstanding shares of the company for $0.40 each. 23andMe went public in 2021 at a valuation of $3.5 billion, which priced the company at $10 per share, though its stock has been trading under $1 per share since last fall.
While she wrote last month in a securities filing that she’d be willing to hear offers from other organizations to buy the company to appease the board after it rejected Wojcicki’s take-private offer, Wojcicki said she is reconsidering her decision.
All seven independent directors of the company’s board resigned in September, citing differing views with Wojcicki and saying that they hadn’t received a satisfactory and actionable proposal that was in the best interests of the company despite giving her ample time over the past five months. The company also cut its drug discovery unit earlier this summer and settled a data breach lawsuit for $30 million.
“In the interim period, based on subsequent developments, it has become even clearer to me that the best path forward for the Issuer is for me to take the company private. Accordingly, in order to update my prior statement and avoid any confusion in the market, I am no longer open to considering third party takeover proposals for the Issuer,” Wojcicki wrote in the Monday filing.
She said in the filing she is also looking to fill the board seats that were recently vacated.
Nucleus Genomics, a small venture backed startup, said it would consider making an offer to buy the company last month, though it did not submit any formal proposal to do so.
23andMe did not immediately respond to a request for comment.
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