# EDGAR Filing Document

**Accession Number:** 0001805651
**File Stem:** 0001628280-25-033565
**Filing Date:** 2025-7
**Character Count:** 22594
**Document Hash:** 6c33d3fee84e77bcde334f23a9670ebb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-25-033565.hdr.sgml**: 20250701

**ACCESSION NUMBER**: 0001628280-25-033565

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20250701

**DATE AS OF CHANGE**: 20250630

**EFFECTIVENESS DATE**: 20250701

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MARKETWISE, INC.
- **CENTRAL INDEX KEY:** 0001805651
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-288441
- **FILM NUMBER:** 251093713

**BUSINESS ADDRESS:**
- **STREET 1:** 667 MADISON AVENUE
- **STREET 2:** 5TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10065
- **BUSINESS PHONE:** (212) 209-6126

**MAIL ADDRESS:**
- **STREET 1:** 667 MADISON AVENUE
- **STREET 2:** 5TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10065

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ascendant Digital Acquisition Corp.
- **DATE OF NAME CHANGE:** 20200305

**Registration No. 333-**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8** 

**REGISTRATION STATEMENT** 

***Under***

***The Securities Act of 1933***

**MarketWise, Inc.** 

**(Exact name of registrant as specified in its charter)** 

---

| | |
|:---|:---|
| **Delaware** | **87-1767914** |
| **(State or other jurisdiction of**<br>**incorporation or organization)** | **(IRS Employer**<br>**Identification No.)** |

---

**1125 N. Charles St.**

**Baltimore, Maryland 21201**

**(Address of principal executive offices) (Zip code)** 

**MarketWise, Inc. 2021 Incentive Award Plan** 

**MarketWise, Inc. Employee Stock Purchase Plan**

**Scott Forney**

**General Counsel**

**1125 N. Charles St.**

**Baltimore, Maryland 21201**

**(888) 261-2693**

**(Name, address and telephone number, including area code, of agent for service)** 

---

| |
|:---|
| ***Copies to:*** |
| **Scott D. Fisher, Esq.<br>Coy Garrison, Esq.<br>Steptoe LLP<br>1114 Avenue of the Americas<br>New York, New York 10036<br>(212) 506-3900** |

---

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act of 1934, as amended (the "Exchange Act").

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| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| | | Emerging growth company | ☒ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

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**EXPLANATORY NOTE**

Pursuant to General Instruction E of Form S-8, MarketWise, Inc. (the "Registrant") is filing this Registration Statement with the Securities and Exchange Commission (the "Commission") to register an aggregate of 1,742,896 additional shares of Class A common stock, par value $0.0001 per share ("Shares"), which includes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.1,630,554 Shares issuable under the Registrant's 2021 Incentive Award Plan (the "2021 Plan") as a result of the Amendment to the 2021 Plan (the "Amendment"), which was approved by the stockholders of the Registrant on June 12, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.74,865 Shares issuable under the 2021 Plan pursuant to the provisions providing for automatic annual increases in the number of shares of Common Stock reserved and available for issuance under the 2021 Plan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii.37,477 Shares issuable under the MarketWise, Inc. 2021 Employee Stock Purchase Plan (the "2021 ESPP") pursuant to provisions providing for automatic annual increases in the number of shares of Common Stock reserved and available for issuance under the 2021 ESPP.

Pursuant to General Instruction E of Form S-8, this Registration Statement hereby incorporates by reference the contents of the Registrant's previous registration statements on Form S-8 filed with the Commission on September 27, 2021 (File No. 333-259822) to the extent not modified or superseded hereby or by any subsequently filed document, which is incorporated by reference herein or therein.

**PART II** 

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

**Item 3. Incorporation of Documents by Reference**

The following documents, which have been filed with the Commission by MarketWise, Inc. (the "Company"), pursuant to the Exchange Act are hereby incorporated by reference in, and shall be deemed to be a part of, this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)the Company's Annual Report on Form 10-K for the year ended December 31, 2024, including the description of the Company's Common Stock contained therein, filed with the Commission on March 6, 2025 (including the information incorporated by reference therein by the definitive proxy statement on Schedule 14A, filed with the Commission on April 30, 2025);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 (File No. 001-39405);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)the Company's Current Reports on Form 8-K filed with the Commission on February 28, 2025, March 27, 2025, March 20, 2025, March 31, 2025, May 27, 2025, June 13, 2025, and June 18, 2025 (each File No. 001-39405); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)the description of the Company's Common Stock contained in the prospectus included in the Company's registration statement on Form 8-A (File No. 001-39405) filed with the Commission on July 21, 2021, pursuant to the Exchange Act, as updated by the description of the Company's Common Stock contained in Exhibit 4.2 to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2024 (File No. 001-39405) and as amended by any subsequently filed amendments and reports updating such description.

All documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act subsequent to the filing of this Registration Statement and prior to the filing of a post-effective amendment, which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing such documents, except as to specific sections of such documents as set forth therein. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained in any

------

subsequently filed document, which also is deemed to be incorporated by reference herein, modifies or supersedes such statement.

**Item 8. Exhibits.**

---

| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Description of Exhibit** |
| 4.1 | <u>[Certificate of Incorporation of MarketWise, Inc. (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K, filed with the SEC on July 28, 2021).](https://www.sec.gov/Archives/edgar/data/1805651/000162828021014543/super8-kxexhibit31.htm)</u> |
| 4.2 | <u>[Certificate of Amendment to the Certificate of Incorporation of MarketWise, Inc. (incorporated by reference to Exhibit 3.1 to the Company's Current Report of Form 8-K, filed with the SEC on March 31, 2025).](https://www.sec.gov/Archives/edgar/data/1805651/000162828025015716/exhibit31_certificateofame.htm)</u> |
| 4.3 | <u>[Bylaws of the Company (incorporated by reference to Exhibit 3.2 to the Company's Current Report on Form 8-K (File No. 333-39405), filed with the SEC on July 28, 2021).](https://www.sec.gov/Archives/edgar/data/1805651/000162828021014543/super8-kxexhibit32.htm)</u> |
| 4.4 | <u>[Specimen Common Stock Certificate of MarketWise, Inc. (incorporated by reference to Exhibit 4.3 to the Registrant's Registration Statement on Form S-4 (File No. 333-254720), filed with the SEC on May 28, 2021).](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001805651/000162828021011380/acnd-20210528.htm)</u> |
| 5.1\* | <u>[Opinion of Steptoe LLP.](exhibit51-steptoeopinion_s.htm)</u> |
| 23.1\* | <u>[Consent of Deloitte & Touche LLP.](exhibit231-dtconsent_sx86x.htm)</u> |
| 23.2\* | <u>[Consent of Steptoe LLP (included in Exhibit 5.1).](exhibit51-steptoeopinion_s.htm)</u> |
| 24.1\* | <u>[Power of Attorney (included on signature page).](#i02202a8154fe4b79b77bd64073b20b8e_7)</u> |
| 99.1 | <u>[2021 MarketWise, Inc. Incentive Award Plan (incorporated by reference to Exhibit 10.6 to the Registrant's Current Report on Form 8-K, filed with the SEC on July 28, 2021).](https://www.sec.gov/Archives/edgar/data/1805651/000162828021014543/super8-kxexhibit106.htm)</u> |
| 99.2 | <u>[Amendment to the MarketWise, Inc. 2021 Incentive Award Plan (incorporated by reference to Exhibit 3.1 to the Company's Current Report of Form 8-K, filed with the SEC on June 18, 2025).](https://www.sec.gov/Archives/edgar/data/1805651/000162828025032170/exhibit101_amendmentto2021.htm)</u> |
| 99.3 | <u>[2021 MarketWise, Inc. Employee Stock Purchase Plan (incorporated by reference to Exhibit 10.6 to the Registrant's Current Report on Form 8-K, filed with the SEC on July 28, 2021).](https://www.sec.gov/Archives/edgar/data/1805651/000162828021014543/super8-kxexhibit107.htm)</u> |
| 99.4 | <u>[MarketWise, Inc. Form of Restricted Stock Unit Grant Notice and Restricted Stock Unit Agreement (Employees) (incorporated by reference to Exhibit 10.3 to the Registrant's Periodic Report on Form 10-Q, filed with the SEC on November 9, 2023).](https://www.sec.gov/Archives/edgar/data/1805651/000162828023038021/marketwise-2021incentivepl.htm)</u> |
| 99.5 | <u>[MarketWise Inc. Form of Restricted Stock Unit Grant Notice and Restricted Stock Unit Agreement (Non-Employee Directors) (incorporated by reference to Exhibit 10.4 to the Registrant's Periodic Report on Form 10-Q, filed with the SEC on November 9, 2023).](https://www.sec.gov/Archives/edgar/data/1805651/000162828023038021/a2021incentiveplannon-empl.htm)</u> |
| 99.6 | <u>[MarketWise, Inc. Form of Restricted Stock Grant Notice and Restricted Stock Agreement (incorporated by reference to Exhibit 10.5 to the Registrant's Periodic Report on Form 10-Q, filed with the SEC on November 9, 2023).](https://www.sec.gov/Archives/edgar/data/1805651/000162828023038021/marketwise-restrictedstock.htm)</u> |
| 99.7 | <u>[MarketWise, Inc. Form of Stock Appreciation Right Grant Notice and Stock Appreciation Right Agreement (incorporated by reference to Exhibit 99.4 to the Registrant's Registration Statement on Form S-8, filed with the SEC on September 27, 2021).](https://www.sec.gov/Archives/edgar/data/1805651/000162828021019206/exhibit994-sx8.htm)</u> |
| 99.8 | <u>[MarketWise, Inc. Form of Stock Option Grant Notice and Stock Option Agreement (incorporated by reference to Exhibit 99.6 to the Registrant's Registration Statement on Form S-8, filed with the SEC on September 27, 2021).](https://www.sec.gov/Archives/edgar/data/1805651/000162828021019206/exhibit996-sx8.htm)</u> |
| 99.9 | <u>[MarketWise, Inc.](https://www.sec.gov/Archives/edgar/data/1805651/000162828021019206/exhibit993-sx8.htm)[&nbsp;&nbsp;&nbsp;&nbsp;](https://www.sec.gov/Archives/edgar/data/1805651/000162828021019206/exhibit993-sx8.htm)[Form of Restricted Stock Unit Grant Notice and Restricted Stock Unit Agreement (incorporated by reference to Exhibit 99.3 to the Registrant's Registration Statement on Form S-8, filed with the SEC on September 27, 2021).](https://www.sec.gov/Archives/edgar/data/1805651/000162828021019206/exhibit993-sx8.htm)</u> |
| 99.10 | <u>[MarketWise, Inc. Form of Restricted Stock Grant Notice and Restricted Stock Agreement (incorporated by reference to Exhibit 99.5 to the Registrant's Registration Statement on Form S-8, filed with the SEC on September 27, 2021).](https://www.sec.gov/Archives/edgar/data/1805651/000162828021019206/exhibit995-sx8.htm)</u> |
| 107\* | <u>[Filing Fee table](exhibit107_s-8x6x30x2025.htm)</u> |

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________________

\* Filed herewith.

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**SIGNATURES** 

Pursuant to the requirements of the Securities Act, the Company certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Baltimore, Maryland, on the 30th day of June, 2025.

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| | |
|:---|:---|
| **MARKETWISE, INC.** | **MARKETWISE, INC.** |
| By: | /s/ Erik Mickels |
|  | Erik Mickels |
|  | Chief Financial Officer |

---

**SIGNATURES AND POWER OF ATTORNEY** 

Each person whose signature appears below constitutes and appoints each of Dr. David Eifrig and Erik Mickels acting alone or together with another attorney-in-fact, as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for such person and in his or her name, place and stead, and in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and every act and thing requisite or necessary to be done in and about the premises, as fully and to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act, this registration statement has been signed by the following persons on June 30, 2025 in the capacities indicated.

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| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Dr. David Eifrig | Chief Executive Officer and Director | June 30, 2025 |
| Dr. David Eifrig | (Principal Executive Officer) | June 30, 2025 |
| /s/ Erik Mickels | Chief Financial Officer (Principal Financial and Accounting | June 30, 2025 |
| Erik Mickels | Officer) | June 30, 2025 |
| /s/ Porter Stansberry | Director | June 30, 2025 |
| Porter Stansberry | Director | June 30, 2025 |
| /s/ Matthew Smith | Director | June 30, 2025 |
| Matthew Smith | Director | June 30, 2025 |
| /s/ Glenn Tongue | Director | June 30, 2025 |
| Glenn Tongue | Director | June 30, 2025 |
| /s/ Michael Palmer | Director | June 30, 2025 |
| Michael Palmer | Director | June 30, 2025 |
| /s/ Van Simmons | Director | June 30, 2025 |
| Van Simmons | Director | June 30, 2025 |
| /s/ Matthew Turner | Director and Chairman of the Board | June 30, 2025 |
| Matthew Turner | Director and Chairman of the Board | June 30, 2025 |

---

## Ex-Filing

**Exhibit 107**

**Calculation of Filing Fee Table** 

**Form S-8**

(Form Type)

**MARKETWISE, INC.**

(Exact Name of Registrant as Specified in its Charter)

<u>Table 1: Newly Registered Securities</u>

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Plan** | **Security Type** | **Security<br>Class<br>Title** | **Fee**<br>**Calculation**<br>**or Carry**<br>**Forward Rule** | **Amount**<br>**Registered** | **Proposed**<br>**Maximum**<br>**Offering Price**<br>**Per Unit** <br>**(1)** | **Maximum<br>Aggregate<br>Offering Price** | **Fee Rate** | **Amount of**<br>**Registration Fee** |
| 2021 Incentive Award Plan | Equity | Class A common stock, par value $0.0001 per share | Other | 1630554.00 **(2)** | $18.58 | $30295693.32 | 0.00015310 | $4638.27 |
| 2021 Incentive Award Plan | Equity | Class A common stock, par value $0.0001 per share | Other | 74865.00 **(3)** | $18.58 | $1390991.70 | 0.00015310 | $212.96 |
| Employee Stock Purchase Plan | Equity | Class A common stock, par value $0.0001 per share | Other | 37477.00 **(4)** | $18.58 | $696322.66 | 0.00015310 | $106.61 |
| Fees previously paid |  |  |  |  |  |  |  | $— |
|  | Total Offering Amounts | Total Offering Amounts | Total Offering Amounts | Total Offering Amounts |  |  |  | $4957.84 |
|  | Total Fees Previously Paid | Total Fees Previously Paid | Total Fees Previously Paid | Total Fees Previously Paid |  |  |  | $— |
|  | Total Fee Offsets **(5)** | Total Fee Offsets **(5)** | Total Fee Offsets **(5)** | Total Fee Offsets **(5)** |  |  |  | $— |
|  | Net Fee Due | Net Fee Due | Net Fee Due | Net Fee Due |  |  |  | $4957.84 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)For purposes of computing the registration fee only. Pursuant to Rule 457(c) and 457(h) of the Securities Act, the Proposed Maximum Offering Price Per Share with respect to the Plan is based upon the average of the high and low prices of the Registrant's Class A common stock, as reported on The Nasdaq Global Market on June 24, 2025, which date is within five business days prior to the filing of this Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement shall also cover any additional shares of Class A common stock ("Shares") that may, from time to time, be offered or issued under the 2021 Incentive Award Plan (the "2021 Plan") of MarketWise, Inc. (the "Registrant") to prevent dilution resulting from stock splits, stock dividends or similar transactions. In addition, pursuant to Rule 416(c) under the Securities Act, this registration statement also covers an indeterminate amount of interests to be offered or sold pursuant to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)Represents shares issuable under the 2021 Plan pursuant to the provisions providing for automatic annual increases in the number of shares of Common Stock reserved and available for issuance under the 2021 Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)Represents shares issuable under the MarketWise, Inc. 2021 Employee Stock Purchase Plan (the "2021 ESPP") pursuant to provisions providing for automatic annual increases in the number of shares of Common Stock reserved and available for issuance under the 2021 ESPP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)The Registrant does not have any fee offsets.

## Exhibit 5.1

**Exhibit 5.1**

Steptoe LLP

June 30, 2025

MarketWise, Inc.

1125 N. Charles St.

Baltimore, Maryland 21201

<u>Re: MarketWise, Inc. – Registration Statement on Form S-8</u>

Ladies and Gentlemen:

We have acted as counsel to MarketWise, Inc., a Delaware corporation (the "**Company**"), in connection with the filing by the Company of a Registration Statement on Form S-8 (the "**Registration Statement**") with the Securities and Exchange Commission (the "**Commission**") under the Securities Act of 1933, as amended (the "**Act**"), relating to the issuances of up to 1,742,896 shares of Class A common stock, par value $0.0001 per share, of the Company (the "**Plan Shares**") which may be issued pursuant to the MarketWise, Inc. 2021 Incentive Award Plan, as amended (the "**2021 Plan**"), and the 2021 Employee Stock Purchase Plan (the "**2021 ESPP**"). This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or related prospectuses, other than as expressly stated herein with respect to the issuance of the Plan Shares.

We have examined the Registration Statement, the Certificate of Incorporation of the Company, as amended, the 2021 Plan and the 2021 ESPP, each of which have been filed with the Commission as an exhibit to the Registration Statement. In addition, we have examined, and have relied as to matters of fact upon without having independently verified such factual matters, originals, or duplicates or certified or conformed copies, of such records, agreements, documents and other instruments and such certificates or comparable documents of public officials and of officers and representatives of the Company and have made such other investigations as we have deemed relevant and necessary in connection with the opinions hereinafter set forth.

In rendering the opinion set forth below, we have assumed the genuineness of all signatures, the legal capacity of natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as duplicates or certified or conformed copies and the authenticity of the originals of such latter documents.

Based upon the foregoing, and subject to the qualifications, assumptions and limitations stated herein, we are of the opinion that the Plan Shares have been duly authorized and, upon issuance and delivery in accordance with the 2021 Plan and the 2021 ESPP, as applicable, the Plan Shares will be validly issued, fully paid and nonassessable. In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the General Corporation Law of the State of Delaware.

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We do not express any opinion herein concerning any law other than the General Corporation Law of the State of Delaware.

We hereby consent to the filing of this opinion letter as Exhibit 5.1 to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.

Very truly yours,

/s/ Steptoe LLP

## Exhibit 23.1

**Exhibit 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated March 6, 2025 relating to the financial statements of MarketWise, Inc. appearing in the Annual Report on Form 10-K of MarketWise, Inc. for the year ended December 31, 2024.

/s/ Deloitte & Touche LLP

Baltimore, MD

March 6, 2025

<br>