23andMe Announces Intent to Voluntarily Delist from Nasdaq and Deregister with the SEC
Rhea-AI Summary
23andMe (OTC: MEHCQ) has announced its intention to voluntarily delist from Nasdaq and deregister with the SEC. The company plans to file a Form 25 Notification of Delisting around June 6, 2025. This follows Nasdaq's suspension of 23andMe's Class A common stock trading on March 31, 2025. The delisting action comes after the company and its subsidiaries initiated voluntary Chapter 11 bankruptcy proceedings on March 23, 2025 in the U.S. Bankruptcy Court for the Eastern District of Missouri. Following the effectiveness of the Nasdaq delisting, 23andMe intends to file a Form 15 to complete its SEC deregistration.
Positive
- None.
Negative
- Company is undergoing Chapter 11 bankruptcy proceedings
- Delisting from Nasdaq, which reduces visibility and trading accessibility for investors
- Stock trading has been suspended since March 31, 2025
- Deregistration from SEC will reduce transparency and reporting requirements
News Market Reaction 1 Alert
On the day this news was published, MEHCQ declined 6.06%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN FRANCISCO, May 27, 2025 (GLOBE NEWSWIRE) -- 23andMe Holding Co. (“23andMe” or the “Company”) (OTC: MEHCQ), a leading human genetics and biotechnology company, today announced its intention to file a Form 25 Notification of Delisting with the Securities and Exchange Commission (the “SEC”) on or about June 6, 2025, which will remove its securities from listing and registration on Nasdaq. Nasdaq previously suspended the trading of 23andMe’s Class A common stock,
23andMe previously announced on March 23, 2025 that the Company and certain of its subsidiaries initiated voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Eastern District of Missouri (the “Court”).
Once the Nasdaq delisting on Form 25 becomes effective, 23andMe intends to file a Form 15 to deregister with the SEC.
About 23andMe
23andMe is a genetics-led consumer healthcare and biotechnology company empowering a healthier future. For more information, please visit www.23andme.com.
Contact
press@23andme.com
investors@23andme.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included or incorporated in this press release are forward-looking statements. The words “believes,” “anticipates,” “estimates,” “plans,” “expects,” “intends,” “may,” “could,” “should,” “potential,” “likely,” “projects,” “predicts,” “continue,” “will,” “schedule,” and “would” or, in each case, their negative or other variations or comparable terminology, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are predictions based on 23andMe’s current expectations and projections about future events and various assumptions. 23andMe cannot guarantee that it will actually achieve the plans, intentions, or expectations disclosed in its forward-looking statements and you should not place undue reliance on 23andMe’s forward-looking statements. These forward-looking statements involve a number of risks, uncertainties (many of which are beyond the control of 23andMe), or other assumptions that may cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements, which could include the following: risks and uncertainties relating to the Company’s Chapter 11 case (the “Chapter 11 case”), including but not limited to, the Company’s ability to obtain Court approval with respect to motions in the Chapter 11 case, the effects of the Chapter 11 case on the Company and on the interests of various constituents, Court rulings in the Chapter 11 cases and the outcome of the Chapter 11 cases in general, the debtors’ ability to complete the sale of substantially all of their assets to Regeneron Pharmaceuticals, Inc. under Section 363 of the Bankruptcy Code, the length of time the Company will operate under the Chapter 11 case, risks associated with any third-party motions in the Chapter 11 case, the potential adverse effects of the Chapter 11 case on the Company’s liquidity or results of operations and increased legal and other professional costs necessary to execute the Company’s reorganization; whether the Company will emerge, in whole or in part, from the Chapter 11 case as a going concern; trading price and volatility of the Common Stock; and the continuation of trading of the Common Stock on the OTC Pink Market, including whether broker-dealers will continue to provide public quotes of the Common Stock on the OTC Pink Market, whether the trading volume of the Common Stock will be sufficient to provide for an efficient trading market, and whether quotes for the Common Stock will continue on this market in the future. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s filings with the SEC, including under Item 1A, “Risk Factors” in the Company’s most recent Annual Report on Form 10-K, as filed with the SEC, and as revised and updated by our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The statements made herein are made as of the date of this press release and, except as may be required by law, 23andMe undertakes no obligation to update them, whether as a result of new information, developments, or otherwise.
FAQ
Why is 23andMe (MEHCQ) delisting from Nasdaq in 2025?
What happens to MEHCQ shareholders after 23andMe delists from Nasdaq?
When will 23andMe's delisting from Nasdaq become effective?
What is the current status of 23andMe's bankruptcy proceedings?
