WM Technology (MAPS) confirmed that it has received a non-binding proposal from Douglas Francis, a founder, CEO and chairman of the board of directors of WM Technology, and Justin Hartfield, a founder and stockholder of WM Technology, to purchase all of the outstanding common stock of WM Technology not already beneficially owned by Francis and Hartfield. 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, Francis and Hartfield would acquire all of the shares of common stock of WM Technology not already owned by Francis and Hartfield for $1.70 per share of common stock of WM Technology. The board has formed a special committee consisting of disinterested and independent directors to consider the proposal. The special committee intends to consider the proposal with the assistance of its outside financial and legal advisors.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MAPS:
- Co-founders Francis, Hartfield offer to acquire WM Tech for $1.70/share in cash
- WM Technology Strengthens Leadership and Regains Nasdaq Compliance
- Shareholder Alert for WM Technology Inc. (NASDAQ:MAPS)
- WM Technology Reports Strong Q3 Earnings Growth
- WM Technology Announces Leadership Changes and Strong Q3 Results
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
