Silver Spike opened at 18.49 and closed lower at 18.
Just 10,012 shares were redeemed by shareholders in connection with the vote. states and the District of Columbia have legalized recreational use of marijuana, and over 30 states allow some form of the drug for medicinal purposes. (NASDAQ:SSPK) announced in a 8-K filing that its shareholders approved its combination with cannabis marketplace leader WM Technology, Inc., or more commonly known as Weed Maps. The legislation is not expected to advance further as long as the Senate remains in Republican hands. House of Representatives voted to decriminalize marijuana at the federal level, the first time either chamber of Congress has voted to end the federal ban on marijuana since the drug was listed as a “controlled substance” in 1970. The merger agreement comes less than a week after the U.S. Reuters first reported news of the deal on Wednesday. Silver Spike shares were indicated up 8.8% at $11.41 in premarket trading. Investors in the PIPE include funds from the Federated Hermes Kaufmann Funds, Senvest Management LLC and AFV Partners SOURCE: Silver Spike III Acquisition Corp.Weedmaps expects to receive gross proceeds of up to $575 million from the deal, in part from proceeds Silver Spike had raised and also through $325 million in a private investment in public equity, or PIPE, transaction.
SILVER SPIKE ACQUISITION CORP GOOD INVESTMENT UPDATE
The Corporation does not undertake any obligation to update such forward looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Corporation's control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. This press release may contain forward looking information within the meaning of applicable securities legislation, which reflects the Corporation's current expectations regarding future events. is continuing to explore potential targets for a qualifying transaction. is a special purpose acquisition corporation incorporated under the laws of the Province of British Columbia for the purpose of effecting an acquisition of one or more businesses or assets, by way of a merger, amalgamation, arrangement, share exchange, asset acquisition, share purchase, reorganization, or any other similar business combination involving the Corporation. Colonna has ten years of experience at Barclays London in investment banking, and has experience as a senior research analyst at a multi-strategy hedge fund. Also Trade In: Volume: - Market Cap : - PE Ratio: At Loss Avg Vol (2M): 1.20K Enterprise Value : - PB Ratio: 5. Colonna is a partner and Co-head of Credit at Silver Spike Capital, LLC and was formerly a managing partner at Madison Capital Advisors, focusing on emerging growth companies in the cannabis, life sciences, and technology sectors. Silver Spike Acquisition Corp (Units) NAS :SSPKU (USA) Portfolio 22.99 0 (0) 09:42 AM EST Warning GuruFocus detected 1 Medium warning sign with SSPKU. Gentile for his past services and wishes him all the best in his future endeavours.Įffective immediately, the Corporation is delighted to announce that Bernardino Colonna will be assuming the position of Chief Financial Officer. The Board of Directors of the Corporation would like to thank Mr. (NEO: " SPKC.U" and " SPKC.WT.U") (the " Corporation") announces the resignation of Gregory Gentile as Chief Financial Officer of the Corporation due to personal reasons, and not due to any disagreement with the Corporation's operations, policies or practices, effective immediately. TORONTO, ON / ACCESSWIRE / Ma/ Silver Spike III Acquisition Corp. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES
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