The Genetics Testing Company 23 and Mai have filed Chapter 11 to protect their assets for sale of assets. Along with this announcement, the company’s co -founder and CEON Wojki said separately that they were leaving the company to hold free bid for the company.
“After a thorough diagnosis of strategic alternatives, we have decided that the sale of the business is the best way forward to maximize the cost of the business,” Mark Jensen, a special committee chair and member of the Board of Directors, said in a statement.
“We expect the court to pursue our efforts to tackle operational and financial challenges, which includes further reduction in cost and solutions to legal and lease -hold dues. We believe in the value of our people and the value of our assets, and help us to help the people and hope for the benefit of the people.
“23 and its special committee today released the news that identifies its plan to carry the company through the process of Chapter 11. When I am disappointed that we have come to this conclusion and my bid has been rejected, I am a supporter of the company, and I intend to become a bidder, I am free from the company, I am free from the company. “Wojcicke” Wojcicke can be in the best position. In a post on x.
23 and i is A hurt some years After it became normal in 2021. It is known for its wholesale -based test kits that give consumers a glimpse of their genetic lineage, the company has seen more than 99 % of its market capitalization from peak of $ 6 billion after failing to make a profit.
Then in 2023, 23 and miye faced a massive cybertic Its data of about 7 7 million usersHackers were stolen, including the genetic offer and lineage reports of consumers. In September 2024, the company tried the case Related to data violation by paying $ 30 millionAnd shortly thereafter, Wojki said she was looking for To take the company private.
At the time of writing, the company’s market value was about $ 48 million, with its stock trading 79 1.79.