23andMe Going Public Via Merger With Virgin Group SPAC
Yahoo! Finance
23andMe, which has been at the forefront of consumer-based genetic testing since its founding 15 years ago, is finally going public. Rather than taking the traditional initial public offering route, though, the company will enter the public market via a merger with a special purpose acquisition corporation (SPAC) sponsored by Richard Branson's Virgin Group. The merger will add some much-needed cash to 23andMe's coffers as it moves beyond genetic testing and into drug development.
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