On the 23andMe and VGAC Merger
On the 4th February 2021 23andMe and VG Acquisition Corp announced that they will merge, bringing 23andMe into the public. As VGAC is already tradable in the public market, the shares have skyrocketed to 19 USD. But this is crazy… Why this is crazy? First you should know that the initiators of a SPAC commonly have additional rights to e.g. buy additional shares. They also mostly pay 10 USD per share.