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Weedmaps founders want to take the company private as cannabis sector runs into headwinds https://t.co/uBF1zX0i1F
WM Technology Confirms Receipt of Non-Binding Proposal from Co-Founders Regarding Potential Take-Private $MAPS https://t.co/XZHvpoFoLA
Mr. Francis prob needs to step-up the offer. $MAPS appointed him CEO on Nov 7, 2024, granting ~8.7M shares. ~4.3M are PSUs which require hitting $3.25 (50%) and $5.00 (50%) w/n 3-years to fully vest. The kicker? It can all vest in a takeout, regardless of deal price 😂 https://t.co/3xqT4WJi3o https://t.co/XjHtPC6aK1
Ascend Wellness Holdings has completed the repurchase of 11 million common shares for cancellation and received consent from its term loan holders to repurchase up to $5 million of its common shares. Meanwhile, co-founders of WM Technology, Douglas Francis and Justin Hartfield, have submitted a non-binding proposal to acquire the company for $1.70 per share in cash. This proposal comes as the cannabis sector faces challenges, prompting the founders to consider taking the company private. WM Technology has confirmed receipt of the proposal, which is part of a broader trend in the cannabis industry as companies navigate market headwinds.
