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added few more VGAC
New company, new blood, new and great ideas.
It was an opportune time to acquire the company and go forth with a plan that will exceed all that the old company could ever desire.
Branson and his team are no idiots. I am sure they know what they are doing.
23andMe lays off 100 people as DNA test sales decline, CEO says she was ‘surprised’ to see market turn
- 23andMe is laying off 100 people, as consumer DNA tests are down.
- CEO Anne Wojcicki didn’t have a clear explanation for that, but cited a variety of factors, including both recession fears and privacy concerns.
- Wojcicki said she anticipated that DNA testing would explode when she co-founded the business in 2007, but is now looking ahead to a retracting market.
https://www.cnbc.com/2020/01/23/23andme-lays-off-100-people-ceo-anne-wojcicki-explains-why.html
Revenues down 50% in two years. Reviewed the transcript and nothing there about the decrease. One other video hinted at "privacy concerns" as the decrease in revenues.
Investing about 17 minutes in this video will aid in your understanding what this is all about.
And we have one 1/3 (one third) the OS !!!!
* * $VGAC Video Chart 02-04-2021 * *
Link to Video - click here to watch the technical chart video
Agree, looking at BNGO recent move, yeah agree
Unbelievable potential here!
Sir Richard Branson, Anne Wojcicki, Fidelity Management & Research Company LLC, Altimeter Capital, Casdin Capital and Foresite Capital...
WOW!!!!
Who would not want to be a part of this?
Great News this morning!
Tucking away my 3333 @15 for the long haul
Good Looking it is!
Investor presentation...
https://www.sec.gov/Archives/edgar/data/1804591/000095010321001779/dp145636_ex9902.htm
23andMe to Merge with Virgin Group’s VG Acquisition Corp. to Become Publicly-Traded Company Set to Revolutionize Personalized Healthcare and Therapeutic Development through Human Genetics
23andMe to Merge with Virgin Group’s VG Acquisition Corp. to Become Publicly-Traded Company Set to Revolutionize Personalized Healthcare and Therapeutic Development through Human Genetics
23andMe is a leading consumer genetics and research company that offers a personalized health and wellness experience, and has built a premier genetic database to unlock insights leading to the rapid discovery of promising new targets for drug development
Transaction will provide the capital to fund additional investment in key growth initiatives across 23andMe’s consumer health and therapeutics businesses
The transaction will value the outstanding shares of capital stock of 23andMe at an aggregate enterprise value of approximately $3.5 billion
23andMe CEO and Co-Founder Anne Wojcicki and Virgin Group’s Sir Richard Branson are each investing $25 million into the $250 million PIPE and are joined by leading institutional investors including Fidelity Management & Research Company LLC, Altimeter Capital, Casdin Capital and Foresite Capital
The pro forma cash balance of the combined company will exceed $900 million at closing
Current shareholders of 23andMe will own 81% of the combined company
SUNNYVALE, CALIFORNIA & NEW YORK, NY – February 4, 2021 – 23andMe, Inc., a leading consumer genetics and research company, and VG Acquisition Corp. (NYSE: VGAC), a special purpose acquisition company sponsored by Virgin Group, announced today that they have entered into a definitive merger agreement. Upon completion of the transaction, estimated in the second calendar quarter of 2021, VGAC will change its New York Stock Exchange (NYSE) ticker symbol, and the combined company’s securities will trade under the ticker symbol “ME”.
23andMe Overview
23andMe’s mission is to help people access, understand and benefit from the human genome. The company pioneered direct-to-consumer genetic testing, giving consumers unique, personalized information about their genetic health risks, ancestry and traits. 23andMe is the only consumer genetic testing company with multiple FDA clearances for over-the-counter health and carrier status reports. The company is dedicated to empowering its customers with information they can use to make better decisions about their healthcare, helping them to live healthier lives.
23andMe offers its customers the option to participate in genetic research. To date, more than 80% of customers have chosen to participate. This participation, which has helped create a premier re-contactable database for genetic research, enables 23andMe to analyze genotypic and phenotypic data and to discover new genetic insights. These insights unlock future opportunities across health, therapeutics and other areas. 23andMe’s dedicated therapeutics group leverages the company’s research platform to help discover novel treatments for patients with serious unmet medical needs. The company has generated a broad pipeline of more than 30 therapeutic programs, spanning oncology, respiratory, cardiovascular diseases and more.
“As a fellow industry disruptor as well as early investor in 23andMe, we are thrilled to partner with Sir Richard Branson and VG Acquisition Corp. as we approach the next phase of our business, which will create new opportunities to revolutionize personalized healthcare and medicine,” said Anne Wojcicki, CEO and Co-Founder of 23andMe. “We have always believed that healthcare needs to be driven by the consumer, and we have a huge opportunity to help personalize the entire experience at scale, allowing individuals to be more proactive about their health and wellness. Through a genetics-based approach, we fundamentally believe we can transform the continuum of healthcare.”
“Of the hundreds of companies we reviewed for our SPAC, 23andMe stands head and shoulders above the rest,” said Sir Richard Branson, Virgin Group Founder. “As an early investor, I have seen 23andMe develop into a company with enormous growth potential. Driven by Anne’s vision to empower consumers, and with our support, I’m excited to see 23andMe make a positive difference to many more people’s lives.”
Key Transaction Terms
On February 4, 2021, VG Acquisition Corp. (NYSE: VGAC) entered into a definitive agreement to combine with 23andMe through a combination of stock and cash financing. The business combination values 23andMe at an enterprise value of approximately $3.5 billion.
The transaction is expected to deliver up to $759 million of gross proceeds through the contribution of up to $509 million of cash held in VG Acquisition Corp.’s trust account and a concurrent $250 million private placement (PIPE) of common stock, priced at $10.00 per share. Sir Richard Branson, Founder of the Virgin Group, and Anne Wojcicki, CEO and Co-Founder of 23andMe, are each investing $25 million in the PIPE and are joined by leading institutional investors, including funds managed by Fidelity Management & Research Company LLC, Altimeter Capital, Casdin Capital and Foresite Capital.
As part of the transaction, 23andMe’s existing equity holders will roll 100% of their equity into the combined company. Assuming no public shareholders of VG Acquisition Corp. exercise their redemption rights, 23andMe will be capitalized with up to $984 million in cash to fund operations and support new and existing growth initiatives.
The transaction, which has been unanimously approved by the Boards of Directors of each 23andMe and VG Acquisition Corp., is subject to approval by VG Acquisition Corp.’s shareholders and other customary closing conditions. The transaction is expected to close in the second calendar quarter of 2021.
A more detailed description of the transaction terms and a copy of the Agreement and Plan of Merger will be included in a current report on Form 8-K to be filed by VG Acquisition Corp. with the United States Securities and Exchange Commission (the “SEC”). VG Acquisition Corp. will file a registration statement (which will contain a proxy statement/prospectus) with the SEC in connection with the transaction.
Advisors
Citi is serving as lead financial advisor, capital markets advisor and placement agent to 23andMe. Morgan, Lewis & Bockius LLP is serving as legal counsel to 23andMe.
Credit Suisse acted as lead financial advisor, capital markets advisor and placement agent to VG Acquisition Corp. LionTree Advisors acted as financial advisor and Davis Polk & Wardwell LLP is serving as legal counsel to VG Acquisition Corp.
Investor Management Presentation
23andMe and VG Acquisition Corp. management will host a conference call on February 4, 2021 at 8:00 am ET to review an investor presentation. The conference call can be accessed at https://mediacenter.23andme.com/company/investors/. A recording of the webcast will be available online following the conference call, through VG Acquisition Corp. at https://vgacquisition.com/investor-relations/ and 23andMe at https://mediacenter.23andme.com/company/investors/. The presentation will also be filed with the SEC by VG Acquisition Corp. as an exhibit to a Current Report on Form 8-K, which can be viewed on the SEC’s website at www.sec.gov.
About 23andMe
23andMe, Inc., headquartered in Sunnyvale, CA, is a leading consumer genetics and research company. Founded in 2006, the company’s mission is to help people access, understand, and benefit from the human genome. 23andMe has pioneered direct access to genetic information as the only company with multiple FDA clearances for genetic health reports. The company has created the world’s largest crowdsourced platform for genetic research, with 80% of its customers electing to participate. The 23andMe research platform has generated more than 180 publications on the genetic underpinnings of a wide range of diseases. The platform also powers the 23andMe Therapeutics group, currently pursuing drug discovery programs rooted in human genetics across a spectrum of disease areas, including oncology, respiratory, and cardiovascular diseases, in addition to other therapeutic areas. More information is available at www.23andMe.com.
About VG Acquisition Corp.
VG Acquisition Corp. was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The management team includes Sir Richard Branson, founder of the Company, a renowned global entrepreneur and founder of the Virgin Group; Josh Bayliss, the Company’s Chief Executive Officer and director, who is the Chief Executive Officer of the Virgin Group and is responsible for the Virgin Group’s strategic development, licensing of the brand globally and management of direct investments on behalf of the Virgin Group in various companies around the world; and Evan Lovell, the Company’s Chief Financial Officer and director, who is the Chief Investment Officer of the Virgin Group and is responsible for managing the Virgin Group’s investment team and portfolio in North America.
More information is available at https://vgacquisition.com/
https://vgacquisition.com/press_release/23andme-to-merge-with-virgin-groups-vg-acquisition-corp/
mick that is a wrong symbol
GOOD EVENING THANK YOU
happy new year to you & family & all have ah great wkend
mick when was vgac first organized
sorry mistype due to tremmore it is 21 month If they don't and no offer is in place they must refund the money to the original investors. Most of these SPAC do find a partner as of now SBE has asked for an extention into 2021. Charge Point must be asking for better terms or is ready to back out. They have been increasing rev. I now only hold a small possition but have swaped that out for Ride
VG Acquisition Corp (VGAC)
11.16 ? -0.5 (-4.29%)
Volume: 3,115,442 @12/15/20 7:57:25 PM EST
Bid Ask Day's Range
- - 11.0 - 11.54
VGAC Detailed Quote
I THINK MUCH SOONER , PROBABLY 4 TO 6 MOS
It was formed Oct 6, 2020 the unts were able to separate Nov 23. They have 221 months from Oct 6 2020 to complete a merger.
IT WILL BE GOOD 'VG Acquisition Corp (VGAC)'
Right I did more research it was formed to latter acquire a new business.
DUNNO YET 'VG Acquisition Corp (VGAC)'
Ricchard Branson of Virgin group founded this to seek out a target company to take public
what is the company they are merging with
2.81 down .05 will add more Tuesday
what's going price 'VG Acquisition Corp (VGAC)'
thanks mick I did the warrants
VG Acquisition Corp (VGAC)
11.62 ? -0.38 (-3.17%)
Volume: 2,389,968 @12/14/20 6:35:48 PM EST
Bid Ask Day's Range
- - 11.4 - 12.14
VGAC Detailed Quote
I got a fill this am near the low OD this am.
I THINK LOWER PPS CAN DO BECAUSE NO ESTABLISHMENT YET VG Acquisition Corp (VGAC)'
THANK YOU, I PUT SOME IN IBOX FER US'INS 'VG Acquisition Corp (VGAC)'
Yes. I didn’t see a board for VGAC, so I created one.
https://www.otcmarkets.com/stock/VGAC/disclosure SEC Filings
FORM TYPE RECEIVED PERIOD END DATE REPORT
4 12/10/2020 09/24/2020 PDFRTFHTMLXLS
4 12/10/2020 09/24/2020 PDFRTFHTMLXLS
4 12/10/2020 09/24/2020 PDFRTFHTMLXLS
4 12/10/2020 12/08/2020 PDFRTFHTMLXLS
4/A 12/10/2020 09/24/2020 PDFRTFHTMLXLS
4 12/10/2020 09/24/2020 PDFRTFHTMLXLS
8-K 11/20/2020 11/20/2020 PDFRTFHTMLXLS
10-Q 11/16/2020 09/30/2020 PDFRTFHTMLXLS
8-K 10/22/2020 10/16/2020 PDFRTFHTMLXLS
8-K 10/13/2020 10/06/2020 PDFRTFHTMLXLS
4 10/08/2020 10/06/2020 PDFRTFHTMLXLS
SC 13G 10/08/2020 PDFRTFHTMLXLS
8-K 10/06/2020 10/01/2020 PDFRTFHTMLXLS
424B4 10/05/2020 PDFRTFHTMLXLS
EFFECT 10/02/2020 PDFRTFHTML
S-1MEF 10/01/2020 PDFRTFHTMLXLS
3 10/01/2020 10/01/2020 PDFRTFHTMLXLS
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CERT 10/01/2020 PDFRTFHTML
8-A12B 10/01/2020 PDFRTFHTMLXLS
S-1/A 09/23/2020 PDFRTFHTMLXLS
S-1 09/16/2020 PDFRTFHTMLXLS
3 10/01/2020 10/01/2020 PDFRTFHTMLXLS
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CERT 10/01/2020 PDFRTFHTML
8-A12B 10/01/2020 PDFRTFHTMLXLS
S-1/A 09/23/2020 PDFRTFHTMLXLS
S-1 09/16/2020 PDFRTFHTMLXLS
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OTC DISCLOSURE & NEWS SERVICE https://www.otcmarkets.com/stock/VGAC/news
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NEWS
Hennessy Capital Acquisition and VG Acquisition among financial gainers; Investcorp Credit Management and Goosehead Insurance among losersSeeking Alpha | 12/09/2020
TRVG, RMG, MOHO and DPW among after-hours moversSeeking Alpha | 11/25/2020
VG Acquisition Corp. Announces the Separate Trading of its Class A Ordinary Shares and Warrants Commencing November 23, 2020PR NEWSWIRE | 11/20/2020
started trading 09-16-2020 ????? 11-24-2020 https://www.otcmarkets.com/stock/VGAC/overview
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Most people know 23andMe (NASDAQ:ME) for its consumer-facing genetics testing kits,
and while this is certainly an excellent revenue stream, it's not the most exciting part of the company's business.
Where the real long-term potential lies is in the massive genetics data library the company has accumulated, with nearly 12 million genotyped individuals.
To put this in context, consider that the second-largest collection of genetic data belongs to Regeneron Pharmaceuticals, which has less than 10% of this amount.
Here's the point. 23andMe has a 50-50 partnership with pharmaceutical giant GlaxoSmithKline to leverage the company's genetics information to develop therapeutics.
The company currently has some exciting candidates, and if successful,
this could easily be a multibillion-dollar revenue stream for 23andme, which is currently valued at just $3.3 billion.
65 Bleecker Street
6th Floor
New York, NY 10012
FORM TYPE | RECEIVED | PERIOD END DATE | REPORT |
---|---|---|---|
4 | 12/10/2020 | 09/24/2020 | PDFRTFHTMLXLS |
4 | 12/10/2020 | 09/24/2020 | PDFRTFHTMLXLS |
4 | 12/10/2020 | 09/24/2020 | PDFRTFHTMLXLS |
4 | 12/10/2020 | 12/08/2020 | PDFRTFHTMLXLS |
4/A | 12/10/2020 | 09/24/2020 | PDFRTFHTMLXLS |
4 | 12/10/2020 | 09/24/2020 | PDFRTFHTMLXLS |
8-K | 11/20/2020 | 11/20/2020 | PDFRTFHTMLXLS |
10-Q | 11/16/2020 | 09/30/2020 | PDFRTFHTMLXLS |
8-K | 10/22/2020 | 10/16/2020 | PDFRTFHTMLXLS |
8-K | 10/13/2020 | 10/06/2020 | PDFRTFHTMLXLS |
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