Exodus Movement, Inc. Announces Offer to Acquire Banxa Holdings Inc.

Core Viewpoint - Exodus Movement, Inc. has proposed an acquisition of Banxa Holdings Inc., which has been deemed a "Superior Proposal" by Banxa's Board of Directors, allowing Banxa's current partner, 1493819 B.C. Ltd., the opportunity to amend their agreement to counter the offer [1][2]. Group 1: Acquisition Proposal - Exodus has offered to acquire all issued and outstanding common shares of Banxa for CDN$1.10 in cash and 0.0079 of class A common stock of Exodus, valuing the total consideration at approximately CDN$1.79 per Banxa Share [2]. - The share consideration translates to US$0.47 or approximately CDN$0.69 per Banxa Share based on the closing price of Exodus Shares and the exchange rate on February 3, 2025 [2]. Group 2: Banxa's Response - Banxa's Board of Directors, after consulting with financial and legal advisors, unanimously determined that the Exodus Offer is a "Superior Proposal" under their existing arrangement with 1493819 [1]. - Banxa has notified 1493819 of this determination, granting them until February 10, 2025, to propose amendments to their agreement to potentially negate the superiority of the Exodus Offer [1]. Group 3: Company Background - Exodus is a financial technology leader that provides secure, user-friendly cryptocurrency solutions, including self-custodial wallets that allow users to manage their funds independently [4][5]. - The company has been operational since 2015, focusing on making digital assets accessible through its multi-asset crypto wallets [4].