Re:23andMe to merge with VG Acquisition Corp. to become publ...
by l-lousy on Friday February 05, 2021 @09:59AM
(#26036977)
23andMe gets to IPO immediately without having to go through a lot of the regulatory work that would normally happen in a direct listing because the SPAC acquiring them is already public. This means they can get a good percentage of the normal cash infusion with half the hassle.
Those creating the SPAC get a discounted price on the stock they eventually take public, but for the bill via increased risk they might not get a good company.
Those creating the SPAC get a discounted price on the stock they eventually take public, but for the bill via increased risk they might not get a good company.