Key Takeaways:
- Exodus Movement’s Transition to NYSE American Delayed: Scheduled to begin trading on the NYSE American, Exodus Movement’s move has been postponed due to an ongoing review of its registration statement by the SEC.
- Continued Trading on OTCQX: Despite the delay, Exodus’ stock will remain on the OTCQX platform, where it has been trading over-the-counter, until further notice.
- Commitment to Future Uplisting Plans: The company, led by CEO JP Richardson, remains hopeful for a future listing on a national securities exchange post SEC review, aiming to enhance shareholder value and stock liquidity.
Exodus Movement, a prominent crypto wallet company, was scheduled to begin trading on the NYSE American this Thursday, but the event has been postponed, according to a recent announcement by the company.
This delay stems from a review by the U.S. Securities and Exchange Commission (SEC) of Exodus’ registration statement, despite the company’s declaration that it had been approved at the end of April.
Today, the SEC made a surprise last-minute decision that delays Exodus from listing on the NYSE American. While we are deeply disappointed, Exodus will continue to empower customers all over the world to control their own wealth using our best-in-class self-custody crypto wallet.…
— Exodus – Crypto Wallet (@exodus_io) May 9, 2024
Originally trading over-the-counter (OTC), Exodus had planned to uplist its Class A Common Stock to the NYSE American.
The stock was to continue trading on the OTCQX until the close of Wednesday.
However, the company has now confirmed that it will remain on the OTCQX for the foreseeable future.
In response to the postponement, Exodus stated it might consider a future listing on a national securities exchange after the SEC completes its review.
The move to uplist was intended to “creating long-term value for our investors by expanding our global shareholder base and boosting stock liquidity,” according to a tweet earlier this week from JP Richardson, CEO of Exodus.
Expressing his reaction to the unexpected delay, Richardson remarked, “We remain hopeful that the SEC will follow through on its commitment to treat us as the law intends. Exodus has been fully transparent and responsive throughout this process and we expect a swift resolution in this matter,” he said. “In the meantime, we will continue to provide the best possible service and value for our customers and shareholders.”
NYSE American delays crypto wallet maker Exodus' listing due to SEC review https://t.co/5IBQKBm6vE
— The Block (@TheBlock__) May 9, 2024
As the situation unfolds, Exodus remains committed to navigating the regulatory landscape and fulfilling its obligations to stakeholders.
About The Author
Fleming Airunugba, a seasoned Web3 and crypto content expert, leverages his deep understanding of blockchain technology to bring the latest and most impactful news to the crypto community.
With a knack for engaging storytelling and strategic content creation, Fleming is dedicated to educating and inspiring his audience with insightful analysis on cryptocurrencies, NFTs, and the future of digital finance.
Check Fleming out on: