23andMe Class A and B Shares to Undergo 1-for-20 Reverse Stock Split

Dow Jones

2024/10/11

By Denny Jacob

23andMe Holding will undergo a 1-for-20 reverse stock split of its Class and Class B shares on Wednesday, Oct. 16.

The DNA-testing company is making the change after shareholders approved an amendment to combine outstanding shares of Class A and Class B shares at its annual stockholders meeting.

Every 20 shares of 23andMe's Class A and Class B shares issued and outstanding prior to Wednesday will be automatically combined into one share of Class A and Class B shares as a result.

This will reduce the company's Class A and Class B shares from about 350.3 million shares and 166.4 million shares, respectively, to about 17.5 million shares and 8.3 million shares, respectively.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

October 11, 2024 08:40 ET (12:40 GMT)

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