{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-291325","form_type":"8-K","ticker":"EXOD","cik":"0001821534","company_name":"Exodus Movement, Inc.","filed_at":"2025-11-21T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.615824+00:00","generated_at":"2026-05-16T17:41:24.629025+00:00","sec_items":["2.03"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Exodus borrows $60M from Galaxy Digital in Bitcoin-collateralized loan at 9% interest","bullets":["Principal amount of $60 million under Master Digital Currency Loan Agreement with Galaxy Digital LLC.","Loan secured by Bitcoin (BTC) collateral at 150% initial level; margin call thresholds at 140% and 135%.","Interest rate of 9% per annum; evergreen facility with 30-day recall or redelivery option for either party.","Proceeds to maintain capital readiness for potential future strategic transactions.","Collateral custodied at Anchorage Digital Bank; loan not subject to rehypothecation by lender."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-291325","json":"https://secwatch.observer/filing/0001193125-25-291325.json","markdown":"https://secwatch.observer/filing/0001193125-25-291325.md","text":"https://secwatch.observer/filing/0001193125-25-291325.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1821534/000119312525291325/0001193125-25-291325-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1821534/000119312525291325/exod-20251117.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T17:41:24.629025+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"681969b6961509ebd3dce849424b7cb7600cad65","claim":"Exodus Movement, Inc. incurred loan of $60 million with Galaxy Digital LLC at 9% per annum.","evidence_excerpt":"On November 17, 2025, the Company incurred indebtedness in the principal amount of $60 million (the “ November 2025 Loan ”) pursuant to a loan term sheet executed under its Master Digital Currency Loan Agreement (the “ Digital Currency Loan Agreement ”) with Galaxy Digital LLC (the “ Lender ”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1821534/000119312525291325/0001193125-25-291325-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$60 million"},{"label":"Counterparty","value":"Galaxy Digital LLC"},{"label":"Rate","value":"9% per annum"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}