NEW YORK – 23andMe said Thursday that its CEO, Anne Wojcicki, has submitted a proposal to take the company private by purchasing all outstanding shares she or her affiliates don't already own.
Wojcicki, who is also chair of the firm's board of directors and one of its cofounders, submitted her nonbinding proposal late Wednesday in a Schedule 13D filing with the US Securities and Exchange Commission.
In it, she suggested acquiring all outstanding shares of the company not currently owned by her, her affiliates, or any other stockholder she invites to roll over their shares for $.40 per share in cash. She first announced wanting to take 23andMe private in April.
The South San Francisco, California-based company said in a statement that a special committee formed by its board of directors is "carefully reviewing and evaluating the proposal" and cautioned that no particular outcome can be assured at this time.
The committee has hired Wells Fargo as its financial adviser and Dechert LLP as its legal adviser.
In Thursday morning trading on the Nasdaq, 23andMe's shares were up a fraction of a percent at $.40.