As previously announced, the consummation of the business combination with 23andMe is expected to occur on June 16, 2021, subject to the satisfaction of customary closing conditions. Upon the closing, VGAC will change its name to 23andMe Holding Co.

When did VGAC merger?

If the proposals at the Special Meeting are approved, subject to the satisfaction or waiver (as applicable) of other customary closing conditions, the closing of the business combination is currently expected to occur on June 16, 2021. Upon the closing, VGAC will change its name to 23andMe Holding Co.

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.

Who did VGAC merge with?

23andMe Inc., the home DNA-testing provider, has some big dates coming up. VG Acquisition Corp (NYSE:VGAC), the special purpose acquisition company that plans to merge with and take the Sunnyvale, California startup public, will hold a special shareholder meeting Thursday to vote on the deal.

Which SPAC will Virgin orbit use?

Virgin Orbit will merge with NextGen Acquisition Corp. II, a SPAC that holds $383 million in capital. A concurrent private investment in public equity (PIPE) round, with participation from Boeing and AE Industrial Partners, will provide an additional $100 million.

VGAC IS MERGING with 23andMe | Warrants explained | BUY?

34 related questions found

Is Virgin Galactic a SPAC?

Rocket Lab's SPAC merger was just approved, for instance, and it'll begin trading on Wednesday, and Richard Branson's other space company, Virgin Galactic, was the first big SPAC deal that ushered in the craze. ...

What will VGAC merger with?

As previously announced, the consummation of the business combination with 23andMe is expected to occur on June 16, 2021, subject to the satisfaction of customary closing conditions. Upon the closing, VGAC will change its name to 23andMe Holding Co.

What happens to SPAC stock after merger?

What happens to SPAC stock after the merger? After a merger is completed, shares of common stock automatically convert to the new business. Other options investors have are to: Exercise their warrants.

Who funded 23andMe?

23andMe has raised $869 million in private funding to date and counts Sequoia Capital and Fidelity Management among its backers.

Will VGAC shares become shares?

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".

Will 23andMe go public?

Current shareholders of 23andMe will own 81% of the combined company. The merger with Branson's SPAC allows 23andMe to go public without the uncertainty of holding an initial public offering.

How long has 23andMe been out?

History. Linda Avey, Paul Cusenza and Anne Wojcicki founded 23andMe in 2006 to offer genetic testing and interpretation to individuals. In 2007, Google invested $3.9 million in the company, along with Genentech, New Enterprise Associates, and Mohr Davidow Ventures.

What is a blank check company?

A blank check company is a development stage company that has no specific business plan or purpose or has indicated its business plan is to engage in a merger or acquisition with an unidentified company or companies, other entity, or person.

How do I invest in 23andMe?

How to buy shares in 23andMe Holding CoClass A Common Stock

1. Compare share trading platforms. Use our comparison table to help you find a platform that fits you.
2. Open your brokerage account. ...
3. Confirm your payment details. ...
4. Research the stock. ...
5. Purchase now or later. ...
6. Check in on your investment.

What is VGAC UT?

VGAC/U:US. 23andMe Holding Co.

When should I sell my SPAC?

A strategy often pursued by hedge funds is to sell the SPAC after the IPO and keep the warrant that could increase in value if the SPAC stock approaches or exceeds the strike price at which the warrant could be exercised for common stock shares of the SPAC.

Can SPACs go below $10?

Now, you can find many SPACs under $10. SPAC shares can fall below their listing price for several reasons. For example, some early investors might need emergency cash and are willing to sell their shares at a loss to attract buyers quickly. ... Buying SPAC stocks under $10 can be a good deal.

Why do SPACs drop after merger?

At merger time, SPAC shares maintain their $10 nominal value. But their real value soon drops due to dilution when the merger occurs. For all shareholders, dilution arises from paying the sponsor's fee in shares (called the “promote,” often about 20% of the equity).

Who is 23andMe merging with?

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.

Is DraftKings a SPAC?

DraftKings is investing in a SPAC that is set to take Vivid Seats public. The company has already made $1.7 billion in investments this year.

Which SPAC merged with Virgin Galactic?

Virgin Orbit, the satellite-launching spinoff off of Sir Richard Branson's Virgin Galactic, is preparing to go public, announcing Monday that it will merge with a SPAC to list on the Nasdaq. The company is combining with special purpose acquisition company NextGen Acquisition Corp.

Is Virgin Galactic the same as SpaceX?

Virgin Galactic has a differentiated flight from competitors like Blue Origin and SpaceX, but that's not all that's different. A three-day experience has been planned for future astronauts so they can maximize their time in space. If done right, it's this full experience that will make a $450,000 ticket worthwhile.

Will Virgin orbit go public?

Long Beach-based aerospace company Virgin Orbit plans to go public in a merger with Boca Raton, Fla. -based NextGen Acquisition Corp. II, a special purpose acquisition company. ... The company anticipates its total 2021 revenue will be $15 million with the majority of revenue coming from launch services.