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