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NEWS
WM Technology Confirms Receipt of Non-Binding Proposal from Co-Founders Regarding Potential Take-Private
Wednesday, 18th December at 10:23 pm
Special Committee of Independent and Disinterested Directors to Review Proposal
WM Technology, Inc. ("WM Technology" or the "Company") (NASDAQ: MAPS), a leading technology and software infrastructure provider to the cannabis industry, today confirmed that it has received a non-binding proposal, dated December 17, 2024 (the "Proposal"), from Douglas Francis, a founder, Chief Executive Officer and Chairman of the Board of Directors (the "Board") of WM Technology, and Justin Hartfield, a founder and stockholder of WM Technology, to purchase all of the outstanding common stock (Class A and Class V) of WM Technology not already beneficially owned by Messrs. Francis and Hartfield. Messrs. Francis and Hartfield currently beneficially own approximately 32% of the outstanding shares of WM Technology's common stock.
According to the terms of the Proposal, which is subject to certain conditions, Messrs. Francis and Hartfield would acquire all of the shares of common stock of WM Technology not already owned by Messrs. Francis and Hartfield for $1.70 per share of common stock of WM Technology. A copy of the Proposal is included as Annex A to this news release.
Wednesday, 18th December at 10:23 pm
Special Committee of Independent and Disinterested Directors to Review Proposal
WM Technology, Inc. ("WM Technology" or the "Company") (NASDAQ: MAPS), a leading technology and software infrastructure provider to the cannabis industry, today confirmed that it has received a non-binding proposal, dated December 17, 2024 (the "Proposal"), from Douglas Francis, a founder, Chief Executive Officer and Chairman of the Board of Directors (the "Board") of WM Technology, and Justin Hartfield, a founder and stockholder of WM Technology, to purchase all of the outstanding common stock (Class A and Class V) of WM Technology not already beneficially owned by Messrs. Francis and Hartfield. Messrs. Francis and Hartfield currently beneficially own approximately 32% of the outstanding shares of WM Technology's common stock.
According to the terms of the Proposal, which is subject to certain conditions, Messrs. Francis and Hartfield would acquire all of the shares of common stock of WM Technology not already owned by Messrs. Francis and Hartfield for $1.70 per share of common stock of WM Technology. A copy of the Proposal is included as Annex A to this news release.
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