WM Technology's co-founders propose acquiring remaining shares at $1.70/share. Board forms special committee with Evercore as advisor to evaluate take-private offer.

Investing Business Daily

Investing Business Daily | Weedmaps co-founders propose to take company private

IRVINE, Calif. – The co-founders of WM Technology, Inc., better known as Weedmaps, have approached the company’s board with a proposal to take the cannabis-focused technology firm private.  The offer, which was made public today, outlines a bid to purchase all outstanding shares of the company at a price of $1.70 per share in cash. This offer represents a significant premium over recent trading metrics. It is set at 39% above Weedmaps’ closing s…

The share price of Weedmaps’ parent, WM Technology, popped Wednesday morning after its co-founders submitted a proposal to take the California company private. Investors sent shares of the Irvine-based company – which trades as MAPS on the Nasdaq exchange – up nearly 25% on word of the potential deal and boosting its market cap to roughly $255 million.   ADVERTISEMENT    In a letter sent to shareholders on Tuesday and obtained by MJBizDaily, Weed

Marijuana Business Daily

Weedmaps shares surge after cannabis company proposes going private

The co-founders of WM Technology Inc., the parent company of online cannabis marketplace Weedmaps, have submitted an offer to take the company private at $1.70 per share in cash, according to a letter sent to the board of directors on Tuesday. The news sent shares of WM Technology (Nasdaq: MAPS) surging... Please login to read all 467 words.

Green Market Report

Weedmaps co-founders bid to take company private

stocktitan.net

WM Technology Receives $1.70/Share Take-Private Bid from Co-Founders in Strategic Buyout Proposal

The share price of Weedmaps' parent, WM Technology, popped Wednesday morning after its co-founders submitted a proposal to take the California company private. Weedmaps shares surge after cannabis company proposes going private is a post from: MJBizDaily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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The co-founders offered a 39% premium for the company amid industry headwinds and regulatory challenges. The post Weedmaps co-founders bid to take company private appeared first on Green Market Report.

Cannabis News World

Weedmaps co-founders bid to take company private - Cannabis News World

WM Technology Inc (NASDAQ: MAPS), operator of the multi-purpose Weedmaps cannabis platform, was up by 28 per cent Wednesday morning after news broke that its founders were considering taking the company private. Doug Francis and Justin Hartfield mailed a letter to shareholders on Tuesday outlining the proposal, which was acquired by MjBizDaily. They want to buy up all the shares at US$1.70 apiece. This number represents a 39 per cent premium on …

WM Technology Receives $1.70/Share Take-Private Bid from Co-Founders in Strategic Buyout Proposal

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