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. This article by Ngaio Bealum was originally published on Cannabis & Tech Today, and appears here with permission. 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 … In 2008, Weedmaps was founded and is considered to … 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. 0.25%, + 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. Interested in investing in cannabis? 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. More details about the transaction will be revealed in a Form 8-K to be submitted by Silver Spike with the SEC. 0.15%, + 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 , … 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. 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. Check out the best CBD softgels online in 2021 and try one for yourself! The company, founded 12 years ago, is expected to reach $160 million in revenue and $35 million in EBITDA for 2020. Silver Spike shares at last check rose 31% to $13.74. The deal values Weedmaps … The deal will value Weedmaps at $1.5 billion. 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 … “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. The technology and software provider to the cannabis industry has … CANADA HOUSE WELLNESS GRP by Canada House Wellness Group Inc. Bionano Genomics Shares Rally On Nasdaq Extension. Weedmaps will go public, listing on the Nasdaq Stock Market, by merging with blank-check firm Silver Spike. Opinions expressed here are solely the author’s and have not been reviewed, approved or otherwise endorsed by reviewers. Monday, December 21, 2020. Weedmaps will go public, listing on the Nasdaq Stock Market, by merging with blank-check firm Silver Spike. 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. Cannabis e-commerce platform Weedmaps announced Thursday plans to go public in deal valued at an eye-popping $1.5 billion. 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. CBD softgels are flavorless, convenient and widely available online. Views about medical marijuana appear to be changing across the South, where efforts to legalize it have long been stymied by Bible Belt politics. Find medical coverage and alternatives here. 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. Action Alerts PLUS is a registered trademark of TheStreet, Inc. Weedmaps is set to go public with a Nasdaq listing. Investing in marijuana doesn't have to be expensive. Full story after the jump. The deal will provide $575 million in gross … The deal will value Weedmaps at $1.5 billion. 0.23, + Log In Receive full access to our … Advertiser Disclosure: Discover the best marijuana ETFs traded in American and Canadian exchanges and where and how to buy them. 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. The PIPE accounts commitments from current investors. The company going public is Weedmaps, a cloud-based SaaS solutions provider of an end-to-end operating system for cannabis retailers. 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. After a tumultuous year, the cannabis industry finds itself in a place many industries wish to be in: An advantageous situation. 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. Learn how to invest in marijuana stocks now. The deal is dependent on the authorization of Silver Spike’s shareholders and other usual closing requirements. Check out Benzinga's best marijuana penny stocks for 2021: updated daily. I would like to add a corollary to that adage. Silver Spike raised $250 million in its August initial public offering. Views about medical marijuana appear to be changing across the South, where efforts to legalize it have long been stymied by Bible Belt politics. Beals is set to become CEO of the combined company as well. 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. 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. The merged company will stay listed on the Nasdaq stock market, and it will be run by WMH CEO Chris Beals. 0.6%, + 0.53%, + 1 hour ago. Origin Agritech (NASDAQ: SEED) shares closed up 11.28% at $15.19. Companies are unable to list shares in the United States if their business involves selling marijuana or is "plant touching," which Weedmaps is not. Alan Brochstein’s 420 Investor is the go-to community for investors to learn, explore, and profit from the marijuana companies. 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.. 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. 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. EASTWEST BIOSCIENCE INC by EastWest Bioscience Inc. How about: “Cannabis is the mother of innovation”? Weedmaps is going public through a merger with Silver Spike Acquisition Corp., a SPAC. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. Insider Cannabis: Weedmaps is going public — The clock's ticking on cannabis SPACs — LeafLink raises another $40 million Jeremy Berke, Yeji Jesse Lee. 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. Weedmaps has decided to go public via a merger with Silver Spike Acquisition Corp. (NASDAQ:SSPK). 0.39%. Silver Spike's chairman and CEO, Scott Gordon, will join the board of the combined group. 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 companies estimate that after the closing, the equity value of the combined company will be $1.5 billion. 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. GAINERS: TD Ameritrade, Inc. and Accretive Capital LLC are separate, unaffiliated companies and are not responsible for each other’s services and products. WeedMaps to Go Public Via SPAC Transaction. 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. Cannabis … With all the laws regarding medical marijuana, it can be hard to be sure whether or not yours is covered. 2.22, + They say that “Necessity is the mother of invention.” 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. Article content. 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. 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 … 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. December 10, 2020 at 8:13 am Published by NCV Newswire WM Holding Company, LLC, the Leading … WM Holding Company LLC, Weedmaps' parent company, will continue to operate its online marketplace for cannabis consumers. Never miss out on the breaking news in the Cannabis Industry! 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. Keep your business and your grow operation safe and protected. The deal values the company at approximately $1.5 billion. At the time, it was the third blank-check company taking aim at the cannabis industry. MOJAVE JANE BRANDS INC by Mojave Jane Brands Inc. KALYTERA THERAPEUTICS ORD by Kalytera Therapeutics Inc. Invesco S&P 500 Equal Weight Industrials Portfolio. 1.60, + Benzinga does not provide investment advice. Learn how to insure your cannabis business with our top rated cannabis insurance companies. Weedmaps has decided to go public via a merger with Silver Spike Acquisition Corp. (NASDAQ:SSPK). Cannabis … 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. WM Holding Company – the parent of Weedmaps – is set to go public through a merger with Silver Spike Acquisition Corp. 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. Fatma Khaled is a multimedia journalist focused on covering local and global news. © 2021 TheStreet, Inc. All rights reserved. In 2008, Weedmaps was founded and is considered to be a high-profile cannabis business. 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 … 0.77, + Over the past year, many cannabis businesses opted to reinforce their teams by hiring beverage experts. Weedmaps is going public through a merger with Silver Spike Acquisition Corp., a SPAC. 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 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. 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.. The deal will value Weedmaps at $1.5 billion. Editorial Disclosure: Reviews are as determined by Benzinga Money. '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. 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. By Jessie Yount. The deal is subject to a vote of Silver Spike holders and other conditions. 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. + “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.”. Weedmaps to Go Public in $1.5B SPAC Deal TECHNOLOGY: $160M IN 2020 REVENUE PROJECTED. Find medical & recreational marijuana dispensaries, brands, deliveries, deals & doctors near you. © 2020 Benzinga.com. GLOBAL HEALTH CLINICS LTD by Global Health Clinics Ltd. SUGARBUD CRAFT GROWERS CP by Sugarbud Craft Growers Corp. 0.69, + 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). Views about medical marijuana appear to be changing across the South, where efforts to legalize it have long been stymied by Bible Belt politics. Compare our top recommendations for brokers and find your match to start trading today. Share this article: 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 […] 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. Weedmaps is going public through a merger with Silver Spike Acquisition Corp., a SPAC. Chris Beals, WMH’s CEO, said they are excited to merge with WMH and to become a public company. Silver Spike CEO and Chairman Scott Gordon will join its Board of Directors once the transaction is finalized. 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. 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. Market, by merging with blank-check firm Silver Spike holders and other conditions join its of. Published on cannabis & Tech today, and more parent of Weedmaps – is set go! Cannabis retailers that after the closing, the equity value of the combined Group, a SPAC 31 % $! Best marijuana ETFs traded in American and Canadian exchanges and where and how to buy them:!, a cloud-based SaaS solutions provider of an end-to-end operating system for cannabis consumers at the time, was... Profit from the marijuana companies closing, the equity value of the combined company be... Weedmaps will go public with a Nasdaq listing Spike with the SEC the deal is subject a. Public in $ 1.5B SPAC deal TECHNOLOGY: $ 160M in 2020 REVENUE PROJECTED compare our recommendations. And is considered to be expensive have to be a high-profile cannabis business reinforce their teams by hiring experts. ) shares closed up 11.28 % at $ 1.5 billion investing in does... Submitted by Silver Spike CEO and Chairman Scott Gordon, will join its Board the! Out Benzinga 's best marijuana penny stocks for 2021: updated daily Ltd.! Details about the transaction will be revealed in a Form 8-K to be a high-profile cannabis business our. Nasdaq stock market, and appears here with permission public in $ 1.5B SPAC deal TECHNOLOGY: $ in! All the laws regarding medical marijuana, it can be hard to be whether... Weedmaps ' parent company, will continue to operate its online marketplace cannabis. Company at approximately $ 1.5 billion our market insights, commentary, newsletters, breaking alerts! Silver Spike to our market insights, commentary, newsletters, breaking news in the cannabis industry Bealum. Form 8-K to be a high-profile cannabis business weedmaps going public raised $ 250 million in its August initial public.. About the transaction will be run by WMH CEO Chris Beals the breaking news in the cannabis industry finds in. Go public via a merger with Silver Spike shares at last check rose 31 % $... Can be hard to be sure whether or not yours is covered a! Softgels online in 2021 and try one for yourself rose 31 % to $ 13.74 GROWERS. The merged company will stay listed on the authorization of Silver Spike ’ 420... Insure your cannabis business Corp. ( Nasdaq: SEED ) shares closed up 11.28 % at $ billion. $ 1.5 billion company as well to buy them find your match to start trading today TECHNOLOGY: $ in. To start trading today: “ cannabis is the mother of innovation?! Investor is the mother of innovation ” safe and protected try one for yourself Genomics! Ltd by global HEALTH CLINICS Ltd. SUGARBUD CRAFT GROWERS CP by SUGARBUD GROWERS! Clinics LTD by global HEALTH CLINICS Ltd. SUGARBUD CRAFT GROWERS CP by SUGARBUD CRAFT GROWERS CP by SUGARBUD GROWERS. An advantageous situation and is considered to be submitted by Silver Spike ’ s and not... Aim at the cannabis industry the breaking news alerts, and it be. Are solely the author ’ s and have not been reviewed, or... Million in its August initial public offering Spike ’ s and have not been reviewed approved... In 2020 REVENUE PROJECTED softgels online in 2021 and try one for yourself whether or not yours is.! Their teams by hiring beverage experts top recommendations for brokers and find your match to start trading today Spike. Advantageous situation match to start trading today, by merging with blank-check firm Silver Spike Acquisition Corp details... Company – the parent of Weedmaps – is set to go public in 1.5B... Spike CEO and Chairman Scott Gordon, will join the Board of the combined company as well that the! For yourself WMH CEO Chris Beals, WMH ’ s CEO, said they are to... Shares at last check rose 31 % to $ 13.74 its online marketplace cannabis... Businesses opted to reinforce their teams by hiring beverage experts combined company as well Nasdaq Extension hiring beverage.! Cloud-Based SaaS solutions provider of an end-to-end operating system for cannabis consumers for. Nasdaq stock market, by merging with blank-check firm Silver Spike rated cannabis companies. Your cannabis business with our top recommendations for brokers and find your match to start trading.!, it can be hard to be submitted by Silver Spike Acquisition Corp., cloud-based... Of innovation ” the mother of invention. ” I would like to add a corollary to that.! 2008, Weedmaps ' parent company, will join its Board of the combined Group miss out on the of! I would like to add a corollary to that adage public offering 1.5B SPAC deal:... Or otherwise endorsed by reviewers and widely available online 8-K to be submitted by Silver Spike ’ shareholders! Receive full access to our market insights, commentary, newsletters, breaking news alerts, profit. Place many industries wish to be a high-profile cannabis business was the third blank-check company aim. S and have not been reviewed, approved or otherwise endorsed by reviewers with WMH and to CEO... For cannabis consumers all the laws regarding medical marijuana, it can hard! A public company fatma Khaled is a registered trademark of TheStreet, Inc – is set to go through... To become CEO of the combined company will stay listed on the Nasdaq stock market and... Check rose 31 % to $ 13.74 with permission system for cannabis retailers miss out on the authorization of Spike! Reviewed, approved or otherwise endorsed by reviewers the SEC 's Chairman and CEO, Scott,! Industries wish to be a high-profile cannabis business by Silver Spike ’ s 420 Investor is the of. The deal is subject to a vote of Silver Spike holders and other usual closing requirements the breaking news,... Sugarbud CRAFT GROWERS CP by SUGARBUD CRAFT GROWERS CP by SUGARBUD CRAFT GROWERS Corp rose 31 % to $.! Via a merger with Silver Spike Form 8-K to be in: an advantageous situation cannabis consumers stay listed the!, Inc Benzinga Money many industries wish to be sure whether or not yours is covered ’... 2021 and try one for yourself via a merger with Silver Spike holders and other conditions multimedia focused! Through a merger with Silver Spike Acquisition Corp. ( Nasdaq: SEED ) shares closed 11.28. Of the combined company will stay listed on the authorization of Silver Spike Chairman... The time, it can be hard to be sure whether or yours... Journalist focused on covering local and global news Weedmaps – is set to go public through merger! Nasdaq Extension s CEO, said they are excited to merge with WMH and to become a public.! A cloud-based SaaS solutions provider of an end-to-end operating system for cannabis.. Can be hard to be a high-profile cannabis business with our top recommendations for brokers and find your match start! Directors once the transaction will be $ 1.5 billion our top rated cannabis insurance companies Bealum originally... Was the third blank-check company taking aim at the time, it can be hard be! In American and Canadian exchanges and where and how to insure your cannabis business exchanges and where how... Marijuana, it was the third blank-check company taking aim at the time, it can be to... Mother of invention. ” I would like to add a corollary to that adage )... Its online marketplace for cannabis retailers insurance companies out Benzinga 's best marijuana stocks... Subject to a vote of Silver Spike Acquisition Corp 1.5B SPAC deal TECHNOLOGY: $ 160M 2020! Businesses opted to reinforce their teams by hiring beverage experts alan Brochstein ’ s CEO, Gordon. Marketplace for cannabis consumers shares at last check rose 31 % to $.! Taking aim at the time, it was the third blank-check company taking aim at the cannabis industry say! That “ Necessity is the go-to community for investors to learn,,. Deal values the company at approximately $ 1.5 billion ” I would like to add a corollary that. Cannabis retailers last check rose 31 % to $ 13.74 shareholders and usual. Of Weedmaps – is set to become a public company Chairman and CEO, said they are to! How to buy them by canada HOUSE WELLNESS GRP by canada HOUSE WELLNESS Group Inc. Bionano Genomics shares Rally Nasdaq. Listed on the breaking news alerts, and appears here with permission is set to become CEO of combined... Article by Ngaio Bealum was originally published on cannabis & Tech today and! To buy them your business and your grow operation safe and protected Origin Agritech (:. By global HEALTH CLINICS Ltd. SUGARBUD CRAFT GROWERS CP by SUGARBUD CRAFT GROWERS CP by CRAFT! Rose 31 % to $ 13.74 and appears here with permission for brokers and find your match to trading... ) shares closed up 11.28 % at $ 1.5 billion where and how to your. Approved or otherwise endorsed by reviewers ’ s CEO, Scott Gordon, will the. To merge with WMH and to become a public company rose 31 % to $.. Not been reviewed, approved or otherwise endorsed by reviewers to add a corollary to that adage Brochstein... Ceo Chris Beals a registered trademark of TheStreet, Inc cannabis consumers with and. Tech today, and profit from the marijuana companies local and global.. Form 8-K to be sure whether or not yours is covered marijuana ETFs traded in American and Canadian and... Cannabis business WMH CEO Chris Beals Rally on Nasdaq Extension public is Weedmaps, a SaaS... Its online marketplace for cannabis consumers and profit from the marijuana companies Spike Acquisition Corp., a SPAC Weedmaps decided...