SEC issues warning on celebrity SPACs

Over the next two years, $103 billion in SPAC capital will be on the hunt for acquisition targets. The U.S. Securities and Exchange Commission on Wednesday notified investors not to invest in a special-purpose acquisition company, or SPAC, just because a celebrity is involved without naming names.

23andMe to Merge with Virgin Group’s VG Acquisition Corp. to Become Publicly-Traded Company Set to Revolutionize Personalized Healthcare and Therapeutic Development through Human Genetics

23andMe, Inc., a leading consumer genetics and research company, and VG Acquisition Corp. (NYSE: VGAC), a special purpose acquisition company sponsored by Virgin Group, announced today that they have entered into a definitive merger agreement.