Anne Wojcicki has a new offer to take 23andme private, this time for $ 74.7 Million

23andme Ceo anne wojcicki and new mountain capital has submitted a proposal to take the embattled genetic testing company private, according to a friday filing With the US Securities and Exchange Commission.

Wojcicki and new mountain have offered to acquire all of 23andme’s outstanding shares in cash for $ 2.53 per share, or an equity value of approximately $ 74.7 Million. The company’s stock closed at $ 2.42 on Friday with a market cap of about $ 65 million.

The offer come after a turbulent year for 23andme, with the stock losing more than 80% of its value in 2024. In January, the company announced Plans to explore strategic alternativesWhich could include a sale of the company or its assets, a restructuring or a business combination.

23andme has a special committee of independent directors in place to evaluate potential paths forward. The company appointed three new independent directors to its board in October after all service of its previous directors Abruptly resigned The Prior Month. The Special Committee has to Approve WojCicki and New Mountain’s Proposal.

“We believe that our proposal provides compeling value and immediative liquidity to the company’s public stockhlders,” Wojcicki and matthaw holt, managing director and president of president of president of president of presiden New Mountain, Wrote in a Letter to the Special Committee on Comel on Thursday.

Wojcicki previously submitted a proposal to Take the company private For 40 cents per share in July, but it was rejected By the special committee, in part trust the members said it Lacked Committed Financing and Did Not Provide a Premium to the Closing Price at the time.

Wojcicki and new mountain are willing to provide secured debt finance to fund 23andme’s operations through the transaction’s closing, the filing said. New mountain is based in new york and has $ 55 billion of assets under management, according to its website,

23andme declined to comment.

Watch:The Rise and Fall of 23andme