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WM Holding Company, LLC has successfully finalized its business combination with Silver Spike Acquisition Corp. (Ticker: “SSPK”), changing its name to WM Technology, Inc. and its ticker to “MAPS” effective June 16, 2021. The transaction, unanimously approved by SSPK's Board and stockholders, provides $579 million in gross proceeds, supporting WMH’s growth and SaaS offerings for cannabis retailers. WMH reported a 35% CAGR in revenue from 2014-2020, with 2020 revenue of $162 million and a net income of $39 million. The management team remains in place post-merger.
WM Holding Company completed its merger with Silver Spike Acquisition Corp (SSPK), now trading as MAPS on Nasdaq from June 16, 2021. The merger, unanimously approved, provides $579 million in gross proceeds to WMH, primarily for operational growth and expansion of its SaaS platform. From 2014 to 2020, WMH recorded a 35% CAGR in revenue, with $162 million in revenue and $39 million in net income reported for 2020. CEO Chris Beals emphasized the merger's role in advancing a transparent global cannabis economy.
Silver Spike Acquisition Corp (Nasdaq: SSPK) is urging its shareholders to vote in favor of the proposed merger with WM Holding Company, LLC, a leader in cannabis technology and software infrastructure. The Special Meeting for shareholders is set for June 10, 2021. If approved, the merger would close shortly after, with Silver Spike rebranding as WM Technology, Inc. and trading under new symbols “MAPS” and “MAPSW.” Shareholders must vote by 11:59 p.m. ET on June 9, 2021, to participate.
Silver Spike Acquisition Corp. (Nasdaq: SSPK) announced the U.S. SEC's declaration of effectiveness for its Form S-4 registration statement related to its merger with WM Holding Company, LLC. A special meeting for shareholders will be held on June 10, 2021, to approve the business combination. If approved, Silver Spike will become WM Technology, Inc., and trade under the symbols 'MAPS' and 'MAPSW.' Shareholders of record on May 19, 2021, can vote until June 9, 2021. The merged entity aims to enhance its technology solutions in the cannabis industry.
