Co-founders Francis, Hartfield offer to acquire WM Tech for $1.70/share in cash

On December 17, Weedmaps co-founders Douglas Francis and Justin Hartfield, each a Reporting Person, submitted a non-binding proposal to the board of directors of WM Technology (MAPS) to acquire all of the outstanding shares of Class A common stock and Class V common stock of the Issuer not owned by the Reporting Persons and their affiliates at a purchase price equal to $1.70 per share in cash, it was said in a regulatory filing. This Proposal represents a substantial premium to relevant trading metrics, including a 39% premium to the closing price as of December 17, 2024, a 52% premium to the implied Enterprise Value as of December 17, 2024, and a 65% premium to the volume-weighted average price in the last year.