MarketWise, Porter Stansberry agreed on a non-binding term sheet

On July 3, a Special Committee of the Board of Directors of MarketWise agreed on a non-binding term sheet with F. Porter Stansberry for the potential acquisition by the company of 100% of the issued and outstanding membership interests of Porter & Company at a purchase price of $40M, subject to adjustment The Non-Binding Term Sheet contemplates that the Company will pay $10M of the Purchase Price in cash and the remaining $30M in the form of a secured promissory note, to be paid out over three years.