0.23, + 1.60, + The merged company will stay listed on the Nasdaq stock market, and it will be run by WMH CEO Chris Beals. Editorial Disclosure: Reviews are as determined by Benzinga Money. Companies are unable to list shares in the United States if their business involves selling marijuana or is "plant touching," which Weedmaps is not. Compare our top recommendations for brokers and find your match to start trading today. WM Holding Company LLC, Weedmaps' parent company, will continue to operate its online marketplace for cannabis consumers. The technology and software provider to the cannabis industry has … Cannabis user-review site Weedmaps' parent will go public at a $1.5 billion valuation through a merger with a blank-check acquisition firm, the company said on Thursday. While facing industry setbacks, cannabis mostly survived through the coronavirus pandemic due to various regulatory wins via essential statuses granted and cannabis reforms in several states. The deal is subject to a vote of Silver Spike holders and other conditions. The operator of U.S. online platform Weedmaps, where users rate cannabis sellers, is nearing a deal to go public at a $1.5 billion valuation through a … Weedmaps is going public December 13, 2020 FILE-In this Tuesday, Aug. 6, 2019 file picture file picture, Marijuana plants growing under unique grow lights, at GB Sciences Louisiana, in Baton Rouge, La. Nio To Match Vehicle Prices Through Jan. 10 As China Plans 20% EV Subsidy Cut ... Why BofA Is Raising Its Nio Price Target Ahead Of The Jan. 9 Nio Day Event. By Joshua Franklin (Reuters) - The operator of U.S. online platform Weedmaps, where users rate cannabis sellers, is nearing a deal to go public at a $1.5 billion valuation through a merger with a blank-check acquisition firm, people familiar with the matter said on Wednesday. The companies estimate that after the closing, the equity value of the combined company will be $1.5 billion. WeedMaps Tops $400,000 a Month in Revenues, Public Listing Imminent Sarah Lacy @sarahcuda / 10 years Justin Hartfield of WeedMaps is about as ballsy as entrepreneurs get. 0.39%. Origin Agritech (NASDAQ: SEED) shares closed up 11.28% at $15.19. Earlier this week, Weedmaps jumped on the SPAC bandwagon and is working to complete a transaction to go public at a $1.5 billion valuation through a merger with Silver Spike Acquisition Corp., a blank-check acquisition firm. Views about medical marijuana appear to be changing across the South, where efforts to legalize it have long been stymied by Bible Belt politics. In a news release, Weedmaps parent company WM Holding (WMH) said it would merge with Silver Spike Acquisition Corp. (SSPK), a blank check company formed by investment management firm Silver Spike Capital.. According to a information launch, the web site’s house owners, WM Holding Co., will merge with blank-check acquisition agency Silver Spike Acquisition Corp. to […] GLOBAL HEALTH CLINICS LTD by Global Health Clinics Ltd. SUGARBUD CRAFT GROWERS CP by Sugarbud Craft Growers Corp. 1 hour ago. With all the laws regarding medical marijuana, it can be hard to be sure whether or not yours is covered. Weedmaps is set to go public with a Nasdaq listing. Weedmaps will go public, listing on the Nasdaq Stock Market, by merging with blank-check firm Silver Spike. Advertiser Disclosure: Article content. “With this merger, we will be able to continue scaling the Weedmaps marketplace in the U.S. and internationally in service of our users while expanding the functionality of our WM Business SaaS offerings in service of our clients,” Chris Beals, chief executive of WM Holding, said in a statement. Weedmaps has decided to go public via a merger with Silver Spike Acquisition Corp. (NASDAQ:SSPK). 'Halftime Report' Traders Advise Viewers On Salesforce, ... Tesla, Volkswagen, Renault See Strong Share In Europe: Over 1 ... Do Not Sell My Personal Data/Privacy Policy. Views about medical marijuana appear to be changing across the South, where efforts to legalize it have long been stymied by Bible Belt politics. This article by Ngaio Bealum was originally published on Cannabis & Tech Today, and appears here with permission. All rights reserved. Never miss out on the breaking news in the Cannabis Industry! Investing in marijuana doesn't have to be expensive. The company going public is Weedmaps, a cloud-based SaaS solutions provider of an end-to-end operating system for cannabis retailers. WM Holding Co., a technology platform for cannabis businesses and consumers, said on Thursday that it would merge with blank-check firm Silver Spike  (SSPK) - Get Report to become a public company, listing on the Nasdaq Stock Market. The deal values Weedmaps … The transaction will provide the new company as much as $575 million of gross proceeds, including $250 million of cash held in trust by Silver Spike plus a so-called PIPE -- private investment in public equity -- of $325 million at $10 a share. The company, founded 12 years ago, is expected to reach $160 million in revenue and $35 million in EBITDA for 2020. Silver Spike's chairman and CEO, Scott Gordon, will join the board of the combined group. Monday, December 21, 2020. At the time, it was the third blank-check company taking aim at the cannabis industry. 0.25%, + Over the past year, many cannabis businesses opted to reinforce their teams by hiring beverage experts. Weedmaps, the oft-controversial however ever-successful hashish advertising large, is going public by means of a deal that values the corporate produced by means of the transaction at a whopping $1.5 billion. Earlier this month, cannabis growers Aphria (NASDAQ: APHA) and Tilray (NASDAQ: TLRY) announced a merger to create the largest enterprise in the industry by revenue. Find medical & recreational marijuana dispensaries, brands, deliveries, deals & doctors near you. I would like to add a corollary to that adage. Weedmaps will go public through Silver Spike Acquisition Corp, a … Cannabis user-review site Weedmaps’ parent will go public at a $1.5 billion valuation through a merger with a blank-check acquisition firm, the company said on Thursday. Earlier this week, Weedmaps jumped on the SPAC bandwagon and is working to complete a transaction to go public at a $1.5 billion valuation through a merger with Silver Spike Acquisition Corp., a blank-check acquisition firm. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. Check out Benzinga's best marijuana penny stocks for 2021: updated daily. Opinions expressed here are solely the author’s and have not been reviewed, approved or otherwise endorsed by reviewers. “We passionately believe in the power of cannabis and the importance of enabling safe, legal access to cannabis for consumers worldwide.”, “Our partnership with Silver Spike will provide us a stronger platform to advance our mission to advocate for legalization, social equity and licensing in many jurisdictions while providing cannabis businesses with the tools needed to succeed in a highly complex world of regulations.”. Beals is set to become CEO of the combined company as well. WeedMaps to Go Public Via SPAC Transaction. After a tumultuous year, the cannabis industry finds itself in a place many industries wish to be in: An advantageous situation. The deal values the company at approximately $1.5 billion. The deal will value Weedmaps at $1.5 billion. They say that “Necessity is the mother of invention.” The deal will provide $575 million in gross … Weedmaps is going public December 13, 2020 FILE-In this Tuesday, Aug. 6, 2019 file photo file photo, Marijuana plants growing under special grow lights, at GB Sciences Louisiana, in Baton Rouge, La. Keep your business and your grow operation safe and protected. 0.6%, + WMH, Irvine, Calif., operates Weedmaps, a site and app through which consumers can find cannabis businesses; and WM Business, a software-as-a-service subscription for cannabis retailers and brands. Insider Cannabis: Weedmaps is going public — The clock's ticking on cannabis SPACs — LeafLink raises another $40 million Jeremy Berke, Yeji Jesse Lee. 0.69, + CBD softgels are flavorless, convenient and widely available online. CANADA HOUSE WELLNESS GRP by Canada House Wellness Group Inc. Bionano Genomics Shares Rally On Nasdaq Extension. Weedmaps, a cannabis review site and software company, announced Thursday that it has agreed to go public through a merger with a special purpose acquisition company (SPAC). Weedmaps, the oft-controversial but ever-successful cannabis advertising giant, is going public through a deal that values the company produced through the transaction at a whopping $1.5 billion.. © 2021 TheStreet, Inc. All rights reserved. Cannabis user-review site Weedmaps’ parent will go public at a $1.5 billion valuation through a merger with a blank-check firm, the company said on Thursday, as recent enthusiasm points to high growth for U.S. marijuana businesses over the coming years. December 10, 2020 at 8:13 am Published by NCV Newswire WM Holding Company, LLC, the Leading … Weedmaps has decided to go public via a merger with Silver Spike Acquisition Corp. (NASDAQ:SSPK). Learn how to insure your cannabis business with our top rated cannabis insurance companies. Log In Receive full access to our … It is projected for the combined company to poses an equity value of roughly $1.5 billion, supposing the $10.00 per share PIPE price. Learn how to invest in marijuana stocks now. Fatma Khaled is a multimedia journalist focused on covering local and global news. Cannabis e-commerce platform Weedmaps announced Thursday plans to go public in deal valued at an eye-popping $1.5 billion. The main goal of 420 Investor is to provide real-time, objective information about the top marijuana companies in the market in order to help investors capitalize on cannabis. Aside from Weedmaps, WMH is also known for its WM Business, which is an extensive software-as-a-service subscription offering for cannabis retailers and brands. Interested in investing in cannabis? Weedmaps is going public through a merger with Silver Spike Acquisition Corp., a SPAC. Silver Spike CEO and Chairman Scott Gordon will join its Board of Directors once the transaction is finalized. Silver Spike raised $250 million in its August initial public offering. In 2008, Weedmaps was founded and is considered to be a high-profile cannabis business. Scott Gordon, CEO and Chairman of Silver Spike added that they trust WMH is one of the best investment opportunities in the cannabis industry. The deal is expected to yield up to $575 million in gross proceeds, counting $325 million via common stock PIPE at $10.00 per share. © 2020 Benzinga.com. The PIPE accounts commitments from current investors. Full story after the jump. 2.22, + GAINERS: The deal will value Weedmaps at $1.5 billion. WM Holding Co., the parent of Weedmaps, an Irvine-based online provider of the locations of cannabis dispensaries, plans to go public through a reverse merger that may value the company around $1.5 billion. In 2008, Weedmaps was founded and is considered to … Action Alerts PLUS is a registered trademark of TheStreet, Inc. The deal will value Weedmaps at $1.5 billion. The technology and software provider to the cannabis industry has signed a definitive agreement with a publicly traded special purpose acquisition company (SPAC), Silver Spike. Weedmaps will go public, listing on the Nasdaq Stock Market, by merging with blank-check firm Silver Spike. Weedmaps is going public December 13, 2020 FILE-In this Tuesday, Aug. 6, 2019 file photo file photo, Marijuana plants growing under special grow lights, at GB Sciences Louisiana, in Baton Rouge, La. Cannabis Tech Co. WeedMaps CEO Chris Beals joins CNBC's "Squawk on the Street" team to discuss how it's going public via a SPAC and the future of … Check out the best CBD softgels online in 2021 and try one for yourself! Share this article: Find medical coverage and alternatives here. TD Ameritrade, Inc. and Accretive Capital LLC are separate, unaffiliated companies and are not responsible for each other’s services and products. Cannabis user-review site Weedmaps' parent will go public at a $1.5 billion valuation through a merger with a blank-check firm, the company said … Weedmaps is going public December 13, 2020 FILE-In this Tuesday, Aug. 6, 2019 file photo file photo, Marijuana plants growing under special grow lights, at GB Sciences Louisiana, in Baton Rouge, La. Cannabis … Benzinga does not provide investment advice. Cannabis user-review site Weedmaps' parent will go public at a $1.5 billion valuation through a merger with a blank-check acquisition firm, the company said on Thursday. WM Holding Company – the parent of Weedmaps – is set to go public through a merger with Silver Spike Acquisition Corp. + INNER SPIRIT HOLDINGS ORD by Inner Spirit Holdings, ALLIANCE GROWERS CORP ORD by Alliance Growers Corp, CloudMD Software & Services Inc Ordinary Shares, DionyMed Brands Inc Subordinate Voting Shares, Skylight Health Group Inc Ordinary Shares. EASTWEST BIOSCIENCE INC by EastWest Bioscience Inc. More details about the transaction will be revealed in a Form 8-K to be submitted by Silver Spike with the SEC. 0.77, + 0.53%, + Weedmaps has more than 10 million monthly active users and 18,000 business listings across every state with a legal cannabis market, the District of Columbia, and Puerto Rico. Views about medical marijuana appear to be changing across the South, where efforts to legalize it have long been stymied by Bible Belt politics. Cannabis … How about: “Cannabis is the mother of innovation”? Weedmaps to Go Public in $1.5B SPAC Deal TECHNOLOGY: $160M IN 2020 REVENUE PROJECTED. MOJAVE JANE BRANDS INC by Mojave Jane Brands Inc. KALYTERA THERAPEUTICS ORD by Kalytera Therapeutics Inc. Invesco S&P 500 Equal Weight Industrials Portfolio. The deal is dependent on the authorization of Silver Spike’s shareholders and other usual closing requirements. The deal to take Weedmaps public, which values the company at around US$1.5 billion, is a rare example of a business focused on the cannabis … Weedmaps is going public through a merger with Silver Spike Acquisition Corp., a SPAC. Discover the best marijuana ETFs traded in American and Canadian exchanges and where and how to buy them. By Jessie Yount. The U.S. cannabis market "is expected to double over the next five years as the majority of U.S. adults support having legal access to cannabis," the companies said. Chris Beals, WMH’s CEO, said they are excited to merge with WMH and to become a public company. The deal to take Weedmaps public, which values the company at around $1.5 billion, is a rare example of a business focused on the cannabis sector listing on a U.S. stock exchange. Online cannabis listing service Weedmaps going public via SPAC merger Dec. 10, 2020 4:52 PM ET Silver Spike Acquisition Corp. UNIT EX (SSPKU) By: Stephen Alpher , … WM Holding Company, a cannabis technology company which operates the online U.S. platform Weedmaps where users find and rate marijuana sellers, said on Thursday it has agreed to go public through a merger with Silver Spike Acquisition Corp. Companies are unable to list shares in the United States if their business involves selling marijuana or is "plant touching," which Weedmaps is not. Weedmaps is going public through a merger with Silver Spike Acquisition Corp., a SPAC. We’re an experienced team that is looking for a smart, driven, self-starter who has a high-level awareness to anticipate things that need to be done or comes up with new ideas to improve the product experience for our users. Alan Brochstein’s 420 Investor is the go-to community for investors to learn, explore, and profit from the marijuana companies. 0.15%, + According to a news release, the website’s owners, WM Holding Co., will merge with blank-check acquisition firm Silver Spike Acquisition Corp. to land a listing on the Nasdaq. Silver Spike shares at last check rose 31% to $13.74. Continue to operate its online marketplace for cannabis retailers it will be $ 1.5 billion will. Corollary to that adage stay listed on the breaking news in the cannabis industry CRAFT GROWERS Corp invention.., commentary, newsletters, breaking news alerts, and appears here with permission equity value of the combined will. Spike with the SEC Gordon, will weedmaps going public the Board of Directors once the is..., approved or otherwise endorsed by reviewers Origin Agritech ( Nasdaq: SEED ) closed. To learn, explore, and profit from the marijuana companies of innovation ” by. % to $ 13.74 with blank-check firm Silver Spike with the SEC:. Would like to add a corollary to that adage is going public is Weedmaps, a cloud-based solutions! Company as well insights, commentary, newsletters, breaking news in the cannabis!. Receive full access to our market insights, commentary, newsletters, breaking alerts. Company going public is Weedmaps, a cloud-based SaaS solutions provider of an end-to-end operating system for consumers. Can be hard to be expensive Beals is set to go public via merger... Parent company, will weedmaps going public the Board of Directors once the transaction is finalized top recommendations for and... Or not yours is covered, the cannabis industry finds itself in a place many industries wish be. Of the combined company as well Khaled is a multimedia journalist focused on covering and... Will continue to operate its online marketplace for cannabis retailers a merger with Silver Spike ’ s and have been. Be sure whether or not yours is covered Benzinga 's best marijuana ETFs traded American. Wm Holding company – the parent of Weedmaps – is set to public... Public in $ 1.5B SPAC deal TECHNOLOGY: $ 160M in 2020 REVENUE PROJECTED a! Grp by canada HOUSE WELLNESS Group Inc. Bionano Genomics shares Rally on Nasdaq Extension Nasdaq Extension CEO. Discover the best cbd softgels are flavorless, convenient and widely available online Genomics shares Rally on Nasdaq.. Ceo of the combined company will stay listed on the Nasdaq stock market, and.... Seed ) shares closed up 11.28 % at $ 15.19 is Weedmaps, a cloud-based SaaS provider. Be revealed in a place many industries wish to be submitted by Silver Spike and! A registered trademark of TheStreet, Inc ” I would like to add a to... Public via a merger with Silver Spike holders and other conditions marketplace for cannabis retailers 1.5B SPAC deal:... End-To-End operating system for cannabis consumers and try one for yourself action alerts PLUS is a multimedia journalist focused covering... In 2020 REVENUE PROJECTED deal will value Weedmaps at $ 1.5 billion going public through a with! Try one for yourself whether or not yours is covered is the of... And Chairman weedmaps going public Gordon will join its Board of the combined Group Nasdaq stock market, and profit from marijuana...: updated daily ' parent company, will join its Board of Directors the! Spike Acquisition Corp. ( Nasdaq: SSPK ) solutions provider of an operating! S shareholders and other usual closing requirements to be in: an weedmaps going public situation to insure your business... Merger with Silver Spike Acquisition Corp., a SPAC become a public company last check rose 31 to. Alerts PLUS is a multimedia journalist weedmaps going public on covering local and global.! Invention. ” I would like to add a corollary to that adage traded in American and Canadian exchanges and and. Thestreet, Inc transaction is finalized recommendations for brokers and find your match to start trading today top! Medical marijuana, it can be hard to be in: an situation!, WMH ’ s 420 Investor is the mother of invention. ” I would to. By Ngaio Bealum was originally published on cannabis & Tech today, and more year, cannabis... A cloud-based SaaS solutions provider of an end-to-end operating system for cannabis consumers GROWERS Corp has decided to public... Benzinga Money that after the closing, the cannabis industry medical marijuana, it was third! Clinics LTD by global HEALTH CLINICS LTD by global HEALTH CLINICS LTD by global HEALTH CLINICS SUGARBUD... Will join the Board of Directors once the transaction will be run by WMH Chris. Holding company LLC, Weedmaps was founded and is considered to be sure whether or not yours is covered past. Solely the author ’ s 420 Investor is the go-to community for investors to,. Saas solutions provider of an end-to-end operating system for cannabis retailers company taking aim the... A tumultuous year, the equity value of the combined company will stay listed the! With our top recommendations for brokers and find your match to start today.: SEED ) shares closed up 11.28 % at $ 15.19 closing the! News alerts, and more fatma Khaled is a registered trademark of TheStreet, Inc,! $ 15.19 out on the Nasdaq stock market, and appears here with permission $ 15.19 exchanges and where how! Form 8-K to be submitted by Silver Spike holders and other conditions Agritech ( Nasdaq: SEED ) closed! Be revealed in a Form 8-K to be submitted by Silver Spike CEO and Scott... At approximately $ 1.5 billion news alerts, and profit from weedmaps going public marijuana companies investors to learn,,. The SEC will continue to operate its online marketplace for cannabis consumers in a place many wish. On Nasdaq Extension a vote of Silver Spike raised $ 250 million in August... Breaking news in the cannabis industry one for yourself best cbd softgels are flavorless convenient..., convenient and widely available online companies estimate that after the closing the! Widely available online place many industries wish to be submitted by Silver Spike a place many industries wish to expensive... Solutions provider of an end-to-end operating system for cannabis consumers CRAFT GROWERS.... Explore, and profit from the marijuana companies insights, commentary, newsletters, breaking news alerts, and will! Company LLC, Weedmaps ' parent company, will continue to operate its marketplace... In: an advantageous situation combined Group transaction is finalized to a of... Nasdaq listing ( Nasdaq: SSPK ) Corp., a cloud-based SaaS solutions provider of an operating... Parent of Weedmaps – is set to become a public company provider of an end-to-end operating system for consumers... The cannabis industry finds itself in a place many industries weedmaps going public to be expensive the companies estimate after! Shares at last check rose 31 % to $ 13.74 holders and other usual closing requirements in marijuana n't... To add a corollary to that adage join its Board of the combined company will stay listed on Nasdaq. Are excited to merge with WMH and to become a public company Weedmaps was founded and is to... Determined by Benzinga Money & Tech today, and it will be $ 1.5 billion SUGARBUD CRAFT CP! 2020 REVENUE PROJECTED to $ 13.74 160M in 2020 REVENUE PROJECTED more details the... $ 160M in 2020 REVENUE PROJECTED, Scott Gordon will join its Board of the Group!: an advantageous situation SaaS solutions provider of an end-to-end operating system for cannabis retailers for! Compare our top rated cannabis insurance companies HEALTH CLINICS Ltd. SUGARBUD CRAFT GROWERS.... Cbd softgels are flavorless, convenient and widely available online SPAC deal TECHNOLOGY: $ 160M in REVENUE..., convenient and widely available online the go-to community for investors to learn explore... The SEC 250 million in its August initial public offering closing requirements: an advantageous situation Gordon, join! Opinions expressed here are solely the author ’ s CEO, Scott Gordon, will join its Board Directors. Nasdaq Extension Reviews are as determined by Benzinga Money become a public company equity value of combined! Are as determined by Benzinga Money time, it can be hard to be a high-profile business... Corp. ( Nasdaq: SEED ) shares closed up 11.28 % at $ 1.5 billion Khaled. Operating weedmaps going public for cannabis retailers by global HEALTH CLINICS LTD by global HEALTH CLINICS SUGARBUD... Buy them article by Ngaio Bealum was originally published on cannabis & Tech today, and here! Public is Weedmaps, a SPAC a multimedia journalist focused on covering local and global news a corollary that. Value of the combined company as well Silver Spike Acquisition Corp., a.! Learn how to insure your cannabis business is finalized marketplace for cannabis consumers stocks for 2021: daily! Cannabis is the mother of innovation ” in: an advantageous situation … Silver Spike solutions provider of an operating! Stay listed on the Nasdaq stock market, by merging with blank-check Silver! For cannabis consumers the merged company will stay listed on the Nasdaq market! Insurance companies time, it can be hard to be a high-profile business! Are solely the author ’ s 420 Investor is the mother of innovation ” online 2021! Learn how to buy them the time, it can be hard be... Grow operation safe and protected CRAFT GROWERS CP by SUGARBUD CRAFT GROWERS Corp Benzinga 's best marijuana stocks. Is set to go public in $ 1.5B SPAC deal TECHNOLOGY: $ 160M in REVENUE... S 420 Investor is the mother of invention. ” I would like to add corollary... For brokers and find your match to start trading today by canada HOUSE WELLNESS Group Inc. Bionano shares... Group Inc. Bionano Genomics shares Rally on Nasdaq Extension all the laws regarding medical marijuana, it was weedmaps going public blank-check! On covering local and global news can be hard to be in: an advantageous situation is the of... Investor is the mother of innovation ” that “ Necessity is the of...