On January 20, 2023, Frank Porter Stansberry issued a letter to MarketWise, Inc.'s Board communicating his concerns with the Board's and the Company's performance since becoming a public company, highlighting specific, problematic actions taken by the Board and current and former management. Additionally, Frank Porter Stansberry stated that he demands the immediate resignation of the entire board of directors, with the exception of Van Simmons, the calling of a special shareholder meeting to constitute a new board, and the firing of the Company's General Counsel. Frank Porter Stansberry also stated that he demands the Board launch investigations into the ascendant transaction, the September 2022 warrant conversion transaction, and specific actions taken by the former Chief Executive Officer of the Company.