23andMe Board Rejects CEO's Proposal to Take Company Private

Special committee cites lack of premium, financing, and conditional terms in rejecting Anne Wojcicki's offer.

Anne Wojcicki proposed buying all outstanding shares at $0.40 each, an 11% premium over April's stock price.
The company's stock has plummeted 78% over the past year, currently trading at $0.38 per share.
23andMe's revenue dropped 30% year-over-year, with significant declines in demand for DNA testing kits.
The board's special committee plans to explore alternative transactions if no improved offer is made.
23andMe has faced challenges including a major data breach and struggles to achieve profitability.