It could also be that they just saw no reason to enrich a set of insiders and saw a SPAC as a way to stick it to the man.
I have zero clue. My DD is basically on this page, and though I've been a customer since the beginning and have referred a bazillion people, a lot of that has just been due to lack of competition and not necessarily because I've been thrilled by 23andMe's stuff.
It could also be that they just saw no reason to enrich a set of insiders and saw a SPAC as a way to stick it to the man.
A SPAC is the ultimate way to enrich a set of insiders...The SPAC initiators get to buy additional shares of the SPAC at discount prices that other SPAC investors don't have access to. And unlike with a traditional IPO, the targets don't have to disclose those arrangements or other sweetheart details that the target executives receive as part of the acquisition. Another big consideration for a SPAC is that executives get to sell their post-acq stock immediately, while normal employees are still subject to a lock-up period to "protect" the stock price from downward pressure.
It could also be that they just saw no reason to enrich a set of insiders and saw a SPAC as a way to stick it to the man.
I have zero clue. My DD is basically on this page, and though I've been a customer since the beginning and have referred a bazillion people, a lot of that has just been due to lack of competition and not necessarily because I've been thrilled by 23andMe's stuff.