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Wednesday, Mar 19, 2025
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Weedmaps to Go Public

WM Holding Co., the parent of Weedmaps, an Irvine-based online provider of the locations of cannabis dispensaries, plans to go public through a reverse merger that may value the company around $1.5 billion.

Weedmaps will go public through Silver Spike Acquisition Corp, a special purpose acquisition company known as a SPAC. It’s become a popular method to avoid traditional initial public offerings that typically face more regulatory and investor scrutiny.

Weedmaps expects gross proceeds of up to $575 million from the deal, which includes $325 million in a private placement in public entity transaction, also known as PIPE.

The company is on track to generate $160 million in sales this year and has been profitable since its founding 12 years ago, WMH Chief Executive Chris Beals told Reuters today.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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