06:26 AM EST, 12/19/2024 (MT Newswires) -- WM Technology ( MAPS ) said Wednesday that it has received a non-binding proposal from its Chief Executive Officer, Chairman, and co-founder, Douglas Francis, as well as co-founder and stockholder, Justin Hartfield, to buy all outstanding common stock of the company that they do not already own for $1.70 per share.

Francis and Hartfield currently own about 32% of the outstanding shares of WM Technology's ( MAPS ) common stock.

The company said that its board of directors has formed a special committee to consider the proposal.