MarketWise (NASDAQ:MKTW), which combined with Ascendant Digital in July 2021, has launched an offer to exchange all outstanding warrants for 0.1925 shares each.
At the company’s current share price of $4.08, this amounts to a value of $0.79662 per warrant. MarketWise’s warrants (NASDAQ:MKTWW) closed Tuesday at $0.37, but are already up about +102.9% to $0.69 in the pre-market.
The company expects to issue 5,963,648 new common shares through the offering, adding to 27,933763 outstanding public common shares, increasing the float by 21%. Parties presenting 57.9% of public warrants and 52.4% of private placement warrants have already indicated they will accept the offer. Warrants that do not consent to be exchanged in the offer will automatically be exchanged at a 10% lower rate of 0.17325 shares per warrant.
MarketWise, formerly known as Beacon Street Group LLC, operates a portfolio of financial publications and digital information services to both free and paying subscribers. Earlier this month, it announced net revenue of $128 million in the second quarter of 2022, a 9.9% decline from the same period last year.
ADVISORS
- BofA Securities is serving MarketWise as the dealer manager for the exchange offer.
- D.F. King & Co. has been appointed as information agent for the offer.
- Continental Stock Transfer & Trust Company is serving as exchange agent for the offer.
Terms Tracker for the Week Ending June 27, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. June continued its late-month rally with another five SPAC IPOs pricing this week, bringing the monthly total to 10 and the 2025 year-to-date count to...
Blueport (NASDAQ:BPACU) has filed for a $69 million SPAC that would bring another first-time sponsor team to market. The new SPAC is offering investors a right to a 1/6 share in each unit and it will have 15 months to complete a business combination. It is underwritten by Alliance Global Partners and will not be...
At the SPAC of Dawn The markets appear to poised to continue a rosy week with futures in the green in anticipation of PCE inflation readings. Space is one of the sectors feeling the most love recently and launch services firm Rocket Lab (NASDAQ:RKLB) is keeping up the momentum, scheduling two launches within 48 hours...
FIGX Acquisition Corp. (NASDAQ:FIGXU) announced the pricing of its $131 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “FIGXU”, Friday, June 27, 2025. The new SPAC aims to seek out a financial services target with a particular focus on wealth and asset managers with the potential to...
Yorkville Acquisition Corp. (NASDAQ:YORKU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “YORKU”, Friday, June 27, 2025. The new SPAC plans to combine with a target company in the telecom, media or technology sectors. Yorkville Acquisition Corp.’s management team is led...