WM TECHNOLOGY, INC. Material Event - Key Update

WM Technology, Inc. (MAPS) recently disclosed a significant development regarding its listing status on Nasdaq. This summary provides a clear overview of the situation, its potential implications, and what investors should consider.

1. Event Description

WM Technology, Inc. (the "Company"), trading as "MAPS" on Nasdaq, received a notice from The Nasdaq Stock Market LLC ("Nasdaq") on February 4, 2026. Nasdaq informed the Company that its Class A common stock no longer meets the minimum bid price requirement. Specifically, the stock's closing bid price fell below $1.00 per share for 30 consecutive business days.

While this notice is a standard procedure, it does not immediately lead to the delisting of the Company's securities. WM Technology's stock continues to trade on the Nasdaq Global Select Market under the symbol "MAPS."

2. Event Date and Timeline

Nasdaq issued the deficiency notice on February 4, 2026.

WM Technology has a compliance period of 180 calendar days, until August 3, 2026, to regain compliance with Nasdaq Listing Rule 5450(a)(1). To meet this requirement, the closing bid price of the Company's Class A common stock must be $1.00 or higher for a minimum of 10 consecutive business days within this period.

If the Company does not regain compliance by August 3, 2026, it may qualify for an additional 180-calendar day compliance period. This is contingent on meeting the continued listing requirement for the market value of its public shares and all other initial listing standards for the Nasdaq Capital Market (except for the bid price rule), and providing written notice of its intent to resolve the deficiency.

Should WM Technology fail to comply within the allotted period(s), Nasdaq will issue a written notification that its securities face delisting. The Company would then have the right to appeal Nasdaq's delisting decision to a Nasdaq Hearings Panel.

3. Financial Impact

While the notice itself carries no immediate financial impact, failure to regain compliance could lead to several significant consequences:

• Reduced Liquidity: Delisting from Nasdaq would likely decrease trading volume and make it harder for investors to buy or sell the Company's Class A common stock.
• Limited Access to Capital: Delisting could hinder the Company's future ability to raise funds through stock offerings, potentially increasing its cost of capital.
• Impact on Valuation: Delisting could damage the Company's reputation and perceived value among institutional investors and the broader market.
• Potential for Reverse Stock Split: WM Technology might consider a reverse stock split to boost its share price and meet listing requirements. However, this is a cosmetic fix that does not improve the company's underlying financial health and investors often view it negatively.

4. Key Stakeholders Affected

This development impacts various stakeholders:

• Investors: Shareholders face higher volatility and risk, including the potential for reduced liquidity and value if the stock is delisted. The notice highlights underlying concerns about the Company's performance or market perception.
• Employees: A low stock price and uncertainty about the Company's listing status could impact employee morale and compensation, particularly for those with stock options.
• Customers: While immediate service changes are unlikely, prolonged financial instability could hinder the Company's ability to innovate, maintain its Weedmaps platform, or invest in customer support.
• Competitors: Rivals in the cannabis technology sector might see this as an opportunity to gain market share if WM Technology's challenges continue or its reputation suffers.

5. Key Takeaways for Investors

• Increased Risk and Volatility: This notice signals a higher risk profile for WM Technology shares, likely leading to greater price swings.
• Delisting Risk: The threat of delisting from Nasdaq, while not immediate, is a serious concern that could significantly affect the stock's liquidity and how investors view it.
• Focus on Underlying Performance: Investors should look beyond the $1.00 bid price and instead monitor the Company's core business performance – including revenue trends, profitability, and cash flow – to understand why the stock price is low.
• Strategic Response: Investors should closely watch for WM Technology's strategic updates on improving its core business, achieving sustainable growth, and boosting profitability, rather than just tactical moves to meet listing requirements.
• Potential for Reverse Stock Split: Be aware that a reverse stock split is a common tactic to address bid price issues. However, it's a cosmetic fix that doesn't resolve underlying business challenges.
• Monitoring Compliance: Investors should closely track WM Technology's progress in meeting Nasdaq's minimum bid price requirement within the given timeframe.