WM Technology Inc. (MAPS) has confirmed receiving a non-binding proposal dated December 17, 2024, from founders Douglas Francis, who also serves as CEO and Chairman of the Board, and stockholder Justin Hartfield. The proposal seeks to acquire all outstanding common shares not currently owned by them. Together, Francis and Hartfield hold approximately 32% of the company's common stock, and they are offering $1.70 per share for the remaining shares, subject to certain conditions.
The company has stated that a special committee, with the assistance of external financial and legal advisors, will thoroughly evaluate the proposal. The committee is dedicated to making decisions in the best interest of WM Technology and all its shareholders.
On Wednesday, MAPS shares closed the regular trading session at $1.39, marking an increase of $0.17 or 13.93%. In after-hours trading, the stock saw an additional rise of $0.06 or 4.31%.
