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