VG Acquisition (VGAC) Shareholders Approve Business Combination with 23andMe, Inc.
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VG Acquisition Corp. (NYSE: VGAC), a special purpose acquisition company sponsored by Virgin Group ("VGAC" or the "Company") today announced that its shareholders voted to approve the previously announced merger agreement with 23andMe, Inc. ("23andMe") at VGAC's extraordinary general meeting of shareholders (the "Special Meeting") held earlier today.
More than 87% of the votes cast at the Special Meeting were in favor of the approval of the merger agreement. VGAC shareholders also voted overwhelmingly to approve the other proposals presented at the Special Meeting.
As previously announced, the consummation of the business combination with 23andMe is expected to occur on June 16, 2021, subject to the satisfaction of customary closing conditions. Upon the closing, VGAC will change its name to 23andMe Holding Co. ("New 23andMe"), and New 23andMe Class A common stock and New 23andMe warrants will be listed on The Nasdaq Global Select Market ("Nasdaq"). Trading is expected to begin on Nasdaq on June 17, 2021, under the new ticker symbol "ME" for the New 23andMe Class A common stock and "MEUSW" for the New 23andMe warrants.
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