\nWM Technology, Inc. (\u201cWM Technology\u201d or the \u201cCompany\u201d) (Nasdaq: MAPS), a leading marketplace and technology solutions provider to the cannabis industry, today announced its decision to voluntarily delist its Class A common stock and warrants from The Nasdaq Global Select Market (\u201cNasdaq\u201d).<\/p>\n
\nThe Company intends to file a Form 25 with the Securities and Exchange Commission (the \u201cSEC\u201d) to delist its Class A common stock and warrants from Nasdaq and to deregister its Class A common stock and warrants under Section 12(b) of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d), on or about April 17, 2026, and as a result, the Company expects that the last trading day of its Class A common stock and warrants on Nasdaq will be on or about April 24, 2026. Once permitted, the Company expects to file a Form 15 with the SEC to deregister its Class A common stock and warrants under the Exchange Act and suspend the Company\u2019s duty to file any reports required under Section 13(a) and 15(d) of the Exchange Act.<\/p>\n
\nFollowing a thorough review, the Company\u2019s Board of Directors (the \u201cBoard\u201d) concluded that delisting the Company\u2019s securities from Nasdaq is in the best interests of the Company, its shareholders, and other stakeholders. The Board\u2019s decision was the result of careful review and consideration of several factors, including, but not limited to, (1) the limitations a Nasdaq listing places on the Company\u2019s operations and strategies for providing services to cannabis end markets, (2) the constraints on the Company’s ability to achieve long-term, sustainable value creation in an evolving industry, (3) the lack of significant liquidity in the Company\u2019s securities due to a lack of comparable companies and limited investor interest and analyst coverage, and (4) the required personnel resources and expenses relating to continued Exchange Act and Nasdaq disclosure and reporting requirements and other regulatory burdens, which have resulted and would continue to result in significant operating expense and attention of the Company\u2019s management team.<\/p>\n
\n\u201cThis decision is about positioning WM Technology to win over the long term. The cannabis industry has a unique regulatory reality, and operating outside the constraints of a national exchange gives us the agility and focus to build the best possible business for our clients and investors as this industry continues to evolve,\u201d said Doug Francis, CEO and Chairman of WM Technology.<\/p>\n
\nFollowing the delisting of the Company\u2019s Class A common stock and warrants from Nasdaq, the Company expects that its Class A common stock and warrants will be quoted for trading on a market operated by OTC Markets Group Inc. (the \u201cOTC\u201d) so that a trading market may continue to exist for such securities. There is no guarantee, however, that a broker will continue to make a market in the Company\u2019s Class A common stock and warrants.<\/p>\n
About WM Technology<\/b><\/p>\n
\nFounded in 2008, WM Technology operates Weedmaps, a leading cannabis marketplace for consumers, as well as a broad set of eCommerce and compliance software solutions for cannabis businesses and brands in U.S. state-legal markets. WM Technology holds a strong belief in the power of cannabis and the importance of enabling safe, legal access to consumers worldwide.<\/p>\n
\nOver the past 18 years, the Weedmaps marketplace has become a premier destination for cannabis consumers to discover and browse cannabis-related products, access daily dispensary deals, order ahead for pick-up and delivery by participating retailers (where applicable) and learn about the plant. The Company also offers eCommerce-enablement tools designed to help cannabis retailers and brands reach consumers, create business efficiency, and manage industry-specific compliance needs.<\/p>\n
\nHeadquartered in Irvine, California, the Company is committed to advocating for full U.S. legalization, industry-wide social equity, and continued education about the plant through key partnerships and cannabis subject matter experts. Visit us at www.weedmaps.com<\/a>.<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nThis press release includes \u201cforward-looking statements\u201d regarding the Company\u2019s future business expectations which involve risks and uncertainties. Forward looking statements may be identified by the use of words such as \u201cestimate,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cforecast,\u201d \u201cintend,\u201d \u201cwill,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cseek,\u201d \u201ctarget\u201d or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the Company\u2019s strategy, intentions to voluntarily delist its securities from Nasdaq and to deregister its Class A common stock and warrants under the Exchange Act, and the anticipated timing and any anticipated results of such actions. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company\u2019s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including market reactions or impacts resulting from the Company\u2019s delisting and deregistration, including the impact on the Company\u2019s liquidity and the price of its Class A common stock and warrants; the Company\u2019s eligibility for and timing of quotation on the OTC markets; the possibility that trading in the Company\u2019s securities on the OTC markets, if available, may be significantly less liquid and\/or have greater price volatility; the Company\u2019s financial and business performance, including key business metrics and any underlying assumptions thereunder; market opportunity and the Company\u2019s ability to acquire new clients and retain existing clients; expectations and timing related to commercial product launches; success of the Company\u2019s go-to-market strategy; the Company\u2019s ability to scale its business and expand its offerings; the Company\u2019s competitive advantages and growth strategies; the Company\u2019s future capital requirements and sources and uses of cash; the impact of the material weaknesses in the Company\u2019s internal controls and ability to remediate these material weaknesses in the timing the Company anticipates, or at all; the outcome of any known and unknown litigation and regulatory proceedings; changes in domestic and foreign business, market, financial, political and legal conditions; the effect of macroeconomic conditions, including but not limited to inflation, tariffs, public health crises, uncertain credit and global financial markets, past and potential future disruptions in access to bank deposits or lending commitments due to bank failures, current and potential future geopolitical events, including the military conflicts between Russia and Ukraine and in the Middle East, and the occurrence of a catastrophic event, including but not limited to severe weather, war, or terrorist attack; future global, regional or local economic and market conditions affecting the cannabis industry; the development, effects and enforcement of and changes to laws and regulations, including with respect to the cannabis and hemp industries; the Company\u2019s ability to successfully capitalize on new and existing cannabis markets, including its ability to successfully monetize its solutions in those markets; the Company\u2019s ability to manage future growth; the Company\u2019s ability to effectively anticipate and address changes in the end-user market in the cannabis industry; the Company\u2019s ability to develop new products and solutions, bring them to market in a timely manner, and make enhancements to its platform; the Company\u2019s ability to maintain and grow its two-sided marketplace, including its ability to acquire and retain paying clients; the Company\u2019s ability to continue to collect on outstanding receivables; the Company\u2019s ability to realize the expected benefits of any strategic acquisitions; the effects of competition on the Company\u2019s future business; the Company\u2019s success in retaining or recruiting, or changes required in, officers, key employees or directors; cyber-attacks and security vulnerabilities; the possibility that the Company may be adversely affected by other economic, business or competitive and those factors discussed in the Company\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on March 12, 2026. If any of these risks materialize or these assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company does not presently know or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company\u2019s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause the Company\u2019s assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing the Company\u2019s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260407763560\/en\/<\/a><\/span><\/p>\n Investor Relations:<\/p>\n
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investors@weedmaps.com<\/a><\/p>\n
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