23andMe Holding Co. filed bankruptcy after it was unable to find a buyer to rescue it from insolvency proceedings and the board of directors rejected a buyout offer from co-founder Anne Wojcicki.
The Silicon Valley-based firm will continue marketing itself to investors with the goal of getting at least one binding offer by May 7, according to court papers. That deadline was set by lenders, who are seeking court permission to loan 23andMe as much as $35 million to fund its bankruptcy.
The Chapter 11 filing in St. Louis will also resolve its legal troubles related to a data breach, according to a statement. That hack compromised information on millions of people and gave a hacker direct access to about 14,000 user…
