MarketWise expands board to 11, appoints 4 new directors in settlement with investors

MARKETWISE, INC.

Board will immediately appoint Matthew Turner as Class II director, increasing board to 8.
Board will further expand to 11 and appoint David Eifrig, Glenn Tongue, and Matthew Smith if F. Porter Stansberry withdraws his slate and settles.
Investors holding ~133M Class B shares agree to vote all shares in favor of Board nominees at 2023 Annual Meeting.
Voting agreement dated April 17, 2023; proxy granted to CEO if investors breach voting commitment.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MARKETWISE, INC. entered into Voting Agreement with Monument & Cathedral Holdings, LLC and the other persons and entities listed on Schedule A thereto (effective 2023-04-17).

Action: entry
Counterparty: Monument & Cathedral Holdings, LLC and the other persons and entities listed on Schedule A thereto
Effective: 2023-04-17

Exact text from the filing

On April 17, 2023, MarketWise, Inc. (the “Company”) entered into a Voting Agreement (the “Voting Agreement”) by and among the Company, Monument & Cathedral Holdings, LLC (“Monument”) and the other persons and entities listed on Schedule A thereto

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MARKETWISE, INC. filing history →

Source: SEC EDGAR

accession 0001628280-23-012422

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