RegulatoryApr 7, 2026, 05:06 PM
WM Technology (MAPS) Announces Voluntary Nasdaq Delisting, Plans Move to OTC Markets
AI Summary
WM Technology, Inc. (MAPS) announced on April 7, 2026, its voluntary intention to delist its Class A common stock and warrants from the Nasdaq Global Select Market, with plans for eventual deregistration under the Securities Exchange Act of 1934. The company expects to file a Form 25 with the SEC on or about April 17, 2026, which will make the delisting effective 10 days thereafter. Following the delisting, WM Technology anticipates its securities will be quoted on OTC Markets Group Inc., but warns of likely adverse effects on stock price and decreased liquidity. The filing also noted a change in the company's certifying accountant.
Key Highlights
- WM Technology, Inc. (MAPS) provided notice on April 7, 2026, of its voluntary intention to delist its Class A common stock and warrants from the Nasdaq Global Select Market.
- The company intends to file a Form 25 with the SEC on or about April 17, 2026, to effect the delisting and deregistration under Section 12(b) of the Exchange Act.
- The removal of the common stock and warrants from Nasdaq will be effective 10 days after the filing of the Form 25.
- Following delisting, WM Technology expects its common stock and warrants to be quoted for trading on a market operated by OTC Markets Group Inc.
- The company explicitly states that the price of its common stock and warrants will likely be adversely affected, and there will likely be a decrease in liquidity.
- The filing also indicates a change in the registrant's certifying accountant, though specific details were not provided in the truncated text.