What happens to VGAC stock after the merger? When a SPAC successfully merges with its target, the stock of the SPAC weaves into the new company. As a result, VGAC stock will cease to exist in its SPAC-avatar following the merger.
Should you buy VG acquisition (vgac) stock before a merger?
Jun 09, 2021 · Founded in 2006, 23andMe is a genetics company best known for its in-home DNA testing kits. After the transaction closes, VGAC investors and sponsors will own 13 percent of 23andMe, while PIPE...
What's 23andMe's stock price after the vgac SPAC merger?
Mar 09, 2021 · After hitting a high above $18, in the weeks following its announcement of the merger candidate, shares of VGAC stock have pulled back about 41%. Source: nevodka / Shutterstock.com Now at $10.74...
Why has vgac stock dropped 40 percent from its peak?
Jun 15, 2021 · Branson’s Virgin Acquisition Group (NYSE: VGAC) announced on June 10 that its shareholders voted to approve a previously announced merger agreement with 23andMe.
Is VG acquisition the SPAC’s next merger target?
Apr 06, 2021 · VGAC SPAC is backed by billionaire Richard Branson of Virgin Group. VGAC stock investors and sponsors will own a 13 percent stake in 23andMe stock. After the merger closes, 23andMe stock will trade...
Will VGAC become me?
The merger with VGAC is expected to be completed sometime in Q2 and the newly merged company will trade under the ticker "ME." It should be noted that Sir Richard Branson was an early investor in 23andMe, meaning he likely knows the company's story very well and has confidence in the long-term growth story.Apr 26, 2021
What does VG Acquisition Corp do?
The transaction, which was approved on 10 June 2021 by VG Acquisition Corp.'s shareholders, uniquely positions 23andMe to revolutionise personalised healthcare and therapeutic development through human genetics. The combined company is called 23andMe Holding Co.Jun 16, 2021
Who owns VG Acquisition Corp?
Genetic Test Company 23andMe Completes Merger with Richard Branson's VG Acquisition Corp., Stock Now Trades on NASDAQ.Aug 4, 2021
Is 23andMe a SPAC?
Personalized medicine and at-home genetic testing kit company 23andMe went public on Thursday through a merger with a Richard Branson SPAC, VG Acquisition Corp., in a deal that raised near-$600 million and valued the company at $3.5 billion.Jun 17, 2021
What happens to VGAC?
Upon the closing, VGAC will change its name to 23andMe Holding Co. ("New 23andMe"), and New 23andMe Class A common stock and New 23andMe warrants will be listed on The Nasdaq Global Select Market ("Nasdaq").Jun 10, 2021
Can you invest in Virgin orbit?
California's Virgin Orbit (VORB) is now a public stock trading on the Nasdaq, having completed a merger with special purpose acquisition company (SPAC) NextGen Acquisition Corp.
Why did 23andMe stock drop?
23andMe's stock has tumbled as a result of its weak revenue growth. New income from drug development collaborations could increase over time. It's difficult to value an enterprise that's in the midst of a pivot.Feb 16, 2022
Did 23andMe merge with ancestry?
23andMe population geneticists have developed an unrivaled compilation of genetic content related to ancestry. As leaders in online ancestry and population genetics tools, Ancestry.com and 23andMe will continue to collaborate to provide Ancestry.com DNA customers with new and valuable information about their forebears.Sep 9, 2008
Who is 23andMe owned by?
23andMe is merging with VG Acquisition Corp., a special purpose acquisition company founded by billionaire Richard Branson, to go public. The deal values the consumer genetic testing company at $3.5 billion, including debt. The deal is expected to close in the second calendar quarter of 2021.
Does China own 23andMe?
The counterintelligence center also highlighted investments by WuXi, which bought a Pfizer manufacturing plant in China, announced a production facility in Massachusetts and made an investment in 2015 in 23andMe, the consumer genetics company.Oct 22, 2021
Who is Anne Wojcicki married to?
Sergey BrinAnne Wojcicki / Spouse (m. 2007–2015)Sergey Mikhailovich Brin is an American business magnate, computer scientist, and Internet entrepreneur. Together with Larry Page, he co-founded Google. Brin was the president of Google's parent company, Alphabet Inc., until stepping down from the role on December 3, 2019. Wikipedia
Does the Mormon Church own 23andMe?
The answer is no. Ancestry, the online genealogy giant, has never been owned by the Church of Latter-day Saints (Mormons).
VGAC Stock: This Merger Is More Than Meets the Eye
Why are investors not liking the proposed deal? Well, there are two reasons.
As a Healthcare Play, This Is an Exciting Opportunity
To appreciate the potential here, you have to look beyond this company’s past and present business.
When will 23andme stock start trading?
In turn, the agreement allows 23andMe to hit Wall Street. Shares will begin trading on June 17 via the Nasdaq exchange under the “ME” stock ticker. The agreement initially occurred back in February with a value of around $3.5 billion.
When will SPACs be available in 2021?
By Nick Clarkson, Web Editor Jun 15, 2021, 1:40 pm EDT. June 15, 2021. Special purpose acquisition companies (SPACs) have been the talk of Wall Street for more than a year now. And although 2020 was deemed the “year of the SPAC,” 2021 also has welcomed a few of their own.
Is Virgin acquired by 23andme?
Branson’s Virgin Acquisition Group (NYSE: VGAC) announced on Ju ne 10 that its shareholders voted to approve a previously announced merger agreement with 23andMe. Additionally, according to the release, more than “87% of the votes cast at the Special Meeting were in favor of the approval of the merger agreement.”.
Why VGAC SPAC stock is falling
VGAC stock has fallen more than 40 percent from its peak. The drop can be attributed to several factors. Considering that VGAC stock almost doubled on the 23andMe merger announcement, some investors have been taking profits, which caused selling pressure.
VGAC's merger date
VGAC and 23andMe haven’t set a firm merger closing date. However, the transaction is expected to close at any time between April and June. The boards on both sides back the deal. The merger still needs approval from VGAC SPAC investors.
VGAC's stock forecast
VGAC stock has traded in the $9.65–$18.16 band since its debut. It closed at $10.19 on April 5. After seeing the stock drop off sharply from its high. As the 23andMe merger date draws close, you might be wonder what VGAC's stock forecast is now.
Is VGAC stock undervalued ahead of the 23andMe merger date?
23andMe will have an enterprise value of $3.5 billion after the VGAC SPAC merger closes. It aims to generate $218 million in revenue in 2021, which gives it a NTM EV-to-sales multiple of 16x.