Exodus Movement, Inc. (EXOD): M&A transaction — Exodus acquires Monavate Holdings & Baanx.com for $76.3M; buys Baanx US for $30M

Exodus Movement, Inc.

Acquired Monavate Holdings and Baanx.com Ltd from UK receivers for $76,273,333, discharging $70M in prior W3C Loans.
Separately acquired Baanx US Corp from W3C/Howat for $30M, payable in installments over 4 years; $5M due at delivery.
Prior $10M loan to Howat forgiven; litigation with W3C/Howat dismissed with prejudice.
Exodus had previously sued in Delaware Chancery to compel compliance with 2025 Stock Purchase Agreement.
Acquired entities provide payment and crypto services; financial statements to be filed within 71 days.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Exodus Movement, Inc. completed an acquisition involving Monavate Holdings Limited and Baanx.com Ltd for $76,273,333.30 (closed 2026-05-01).

Action: acquisition
Counterparty: Monavate Holdings Limited and Baanx.com Ltd
Consideration: $76,273,333.30
Closing: 2026-05-01

Exact text from the filing

On May 1, 2026, the Company acquired the outstanding shares of Monavate Holdings Limited and Baanx.com Ltd from the Receivers for a purchase price of $76,273,333.30, which is the exact amount of principal and interest outstanding on the W3C Loans, as of April 30, 2026.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

Exodus Movement, Inc. terminated 2025 Stock Purchase Agreement.

Action: termination
Agreement: equity purchase

Exact text from the filing

the parties agreed that effective automatically upon the Delivery Date, (a) the 2025 Stock Purchase Agreement will be terminated

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Exodus Movement, Inc. entered into Stock and Asset Purchase Agreement with Baanx US Corp., W3C Corp., and Garth Howat valued at $30.0 million (effective 2026-05-01).

Action: entry
Agreement: asset purchase
Counterparty: Baanx US Corp., W3C Corp., and Garth Howat
Value: $30.0 million
Effective: 2026-05-01

Exact text from the filing

On May 1, 2026, the Company entered into a Stock and Asset Purchase Agreement (the "Purchase Agreement") with Baanx US Corp. (the "Baanx US"), W3C and Howat, pursuant to which the Company acquired all of the issued and outstanding shares of capital stock of Baanx US and agreed to acquire certain other assets from Howat (the "Transaction").

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Exodus Movement, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-26-030151

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