MarketWise CEO Stansberry resigns; deal for Porter & Co. terminated

MARKETWISE, INC.

F. Porter Stansberry resigns as CEO and Chairman, effective Aug 9, 2024; remains on board.
Board appoints Dr. David Eifrig as interim CEO; Matthew Turner as Acting Chairman.
Company and Stansberry terminate negotiations to acquire Porter & Co. (100% membership interests).
Stansberry cites refusal of special committee to close $10M-upfront deal for Porter & Co., which had $28M billings in 2023.
Porter & Co. had 25,000+ customers, $1,999 ARPU, and 30% subscriber growth in 2024 per Stansberry.

item 5.02 item 7.01 item 8.01 item 9.01

Executive movements

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Appointed (interim)

Dr. David Eifrig

Interim Chief Executive Officer

MKTW · MARKETWISE, INC.

Effective: 2024-08-10
Filed: August 12, 2024, 7:59 PM ET

On August 10, 2024, the Board appointed Dr. David Eifrig, currently a director of the Company, to serve as interim Chief Executive Officer, effective immediately.

Appointed (interim)

Matthew Turner

Acting Chairman of the Board

MKTW · MARKETWISE, INC.

Effective: 2024-08-10
Filed: August 12, 2024, 7:59 PM ET

On August 10, 2024, the Board appointed Matthew Turner, currently a director of the Company, to serve as Acting Chairman of the Board, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Dr. David Eifrig was appointed as Interim Chief Executive Officer at MARKETWISE, INC..

Action: appointed
Role: Interim Chief Executive Officer

Exact text from the filing

On August 10, 2024, the Board appointed Dr. David Eifrig, currently a director of the Company, to serve as interim Chief Executive Officer, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Matthew Turner was appointed as Acting Chairman of the Board at MARKETWISE, INC..

Action: appointed
Role: Acting Chairman of the Board

Exact text from the filing

On August 10, 2024, the Board appointed Matthew Turner, currently a director of the Company, to serve as Acting Chairman of the Board, effective immediately.

View on SEC.gov

MARKETWISE, INC. filing history →

Source: SEC EDGAR

accession 0001628280-24-036599

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