WM Technology agrees to settle SEC investigation over MAU metric, pay $1.5M penalty

WM TECHNOLOGY, INC.

SEC staff investigation focused on calculation and reporting of monthly active users (MAUs) previously disclosed.
Company consents to administrative cease-and-desist order without admitting or denying SEC findings.
Civil penalty of $1,500,000; no impact on GAAP financial results or reported non-GAAP metrics.
Settlement is subject to mutual agreement on language and SEC approval; no assurance of consummation.

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