Exodus Movement, Inc. announced on February 4, 2025, that it has submitted a proposal to acquire all of the issued and outstanding common shares of Banxa Holdings Inc. Banxa is a globally recognized financial technology platform specializing in digital asset on-and-off ramp solutions.
Banxa's Board of Directors, after consulting with advisors, unanimously determined that the Exodus Offer constituted a 'Superior Proposal' compared to an existing arrangement. The offer includes CDN$1.10 in cash and 0.0079 of Exodus Class A common stock per Banxa Share, valuing the total consideration at approximately CDN$1.79 per Banxa Share based on February 3, 2025, closing prices.
This strategic acquisition aims to enhance Exodus's capabilities in fiat on-and-off ramp services, streamlining the process for users to convert traditional currency to digital assets and vice versa. The potential integration of Banxa's technology would further solidify Exodus's position as a comprehensive self-custodial cryptocurrency platform.
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