Exodus Movement, Inc. announced on February 17, 2025, that its previously disclosed offer for the acquisition of all issued and outstanding common shares of Banxa Holdings Inc. has expired. The companies did not reach a definitive agreement regarding the proposed transaction.
The expiration means that the acquisition will not proceed under the terms of Exodus's offer, which Banxa's Board of Directors had previously deemed a 'Superior Proposal.' This outcome concludes a period of potential strategic expansion for Exodus in the digital asset on-and-off ramp sector.
Exodus stated that it will continue to act as a responsible steward of capital, maintaining a disciplined approach to future acquisitions. The company will now focus on its organic growth initiatives and other strategic opportunities.
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