A total of 29,743,931 warrants were exchanged for stock

Davis Polk advised the dealer manager and solicitation agent in connection with an offer to exchange outstanding warrants to purchase shares of Class A common stock of MarketWise, Inc. and the solicitation of consents from holders of the warrants to amend the warrant agreement to permit the company to require that each warrant outstanding upon the closing of the exchange offer be converted into common stock. A total of 29,743,931 warrants, or approximately 96% of the outstanding warrants were tendered, each for 0.17325 shares of Class A common stock. The settlement of the exchange offer occurred on September 19, 2022.

Based in Baltimore, Maryland, MarketWise is a leading multi‐brand subscription services platform providing premium financial research, software, education and tools for investors. With more than 20 years of operating history, MarketWise is currently composed of 11 primary customer facing brands, offering more than 180 products, and serving a community of approximately 16 million free and paid subscribers. MarketWise is a 100% digital, direct‐to‐customer company offering its research across a variety of platforms including mobile, desktops and tablets.

The Davis Polk corporate team included partner Derek Dostal and associates Fatima Carrillo, Dennis Chu and Chase Belford. The tax team included counsel Leslie J. Altus and associate William Liang. All members of the Davis Polk team are based in the New York office.

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