WM Technology Confirms Withdrawal of Earlier Proposal From CEO, Stakeholder

Dow Jones

Jun 26, 2025

By Denny Jacob

WM Technology confirmed it received a letter from a group that included Chief Executive Douglas Francis stating they are withdrawing their non-binding proposal to acquire all outstanding shares of the company they don't already own.

The group--which included Francis, stockholder Justin Hartfield and entities affiliated with them--said that due to certain external factors they were withdrawing their offer. A non-binding proposal in December proposed purchasing all the outstanding shares for $1.70 a share.

Francis and Hartfield said they would continue to evaluate a transaction and may submit an alternative proposal.

WM Technology provides technology and software infrastructure to the cannabis industry.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

June 25, 2025 16:33 ET (20:33 GMT)

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A non-binding proposal in December proposed purchasing all the outstanding shares for $1.70 a share. \n\n\n  Francis and Hartfield said they would continue to evaluate a transaction and may submit an alternative proposal. \n\n\n  WM Technology provides technology and software infrastructure to the cannabis industry. \n\n\n \n\n\n  Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 25, 2025 16:33 ET (20:33 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}