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