23andMe Sale Rewards Gamblers With 200% Stock Surge
A 23andMe DNA kit
Photographer: Tiffany Hagler-Geard/BloombergThis article is for subscribers only.
Welcome to The Brink. It’s Steven Church and Jonathan Randles, reporters in Wilmington and New York, where we’ve been reporting the sale of 23andme’s DNA database. We’ve also been looking at a potential sale of SFR by Altice France and Zorlu’s plan to cut debt. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net.
Sometimes creditors are better off letting a bankruptcy run its course. A month before 23andMe filed for Chapter 11 in March, co-founder Anne Wojcicki made a renewed take-private offer that valued the company at about $75 million. On Monday, 23andMe sold its data bank for $256 million.