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One of the most popular alt-investment vehicles in the last two years is the SPAC, which provides a way for private companies to go public and for individuals to profit.
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4 takeaways from 23&Me’s planned SPAC deal
Consumer DNA testing company 23andMe plans to go public through a merger with a special-purpose acquisition company started by Virgin Group. As sales of DNA testing kits wane, how will 23andMe drum up new interest for its business?
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As sales for DNA testing kits flatten, the companies that make them are faced with a predicament. Revenues are falling as the market became saturated, and more consumers began to wonder about the privacy of their data.
After a bumpy 2020, consumer DNA testing company 23andMe plans to go public through a blank-check deal. The Sunnyvale, Calif.-based business will merge with a special-purpose acquisition company started by Virgin Group in a deal that would value it at $3.5 billion.