MarketWise signs non-binding term sheet to acquire Porter & Company for $40M

MARKETWISE, INC.

Acquisition of 100% of Porter & Company, LLC from F. Porter Stansberry for $40M purchase price.
$10M cash and $30M secured promissory note payable over three years as deferred consideration.
Seller to enter license/noncompetition agreement with 5-year restrictive covenants.
Special Committee of Board, formed Dec 2023, leads negotiations; term sheet is non-binding.
No assurance that definitive agreement will be reached or transaction consummated.

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