MarketWise received an unsolicited proposal from Monument & Cathedral Holdings, LLC to acquire all remaining outstanding equity for $17.25 per share in cash, contingent on the termination of the company’s tax receivable agreement.
The proposal was delivered on October 28, 2025 and filed as Exhibit 99.2 to MarketWise’s Form 8‑K on October 30, 2025. Monument & Cathedral Holdings already owns 71.7% of Class A common stock and 51.3% of Class B common stock, so the offer would acquire the remaining equity not already owned.
The offer price represents a premium over recent trading levels, with the company’s 52‑week average price at $14.35 and a 52‑week high of $21.74. Management noted that the transaction is subject to the termination of the tax receivable agreement entered into on July 21, 2021, which requires cash payments to members of MarketWise, LLC for certain tax benefits.
MarketWise reported net revenue of $80.0 million and net income of $15.3 million for the second quarter of 2025, down from $83.5 million and $16.8 million in the first quarter. The decline in paid subscribers was attributed to lower customer acquisition and higher churn following the shutdown of its Legacy Research business.
The board of directors is reviewing the proposal with its advisors and has not reached a definitive agreement. The company will evaluate the offer in light of its financial performance, the tax receivable agreement, and strategic alternatives.
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