Listing of Exodus Class A Common Stock Delayed by NYSE American

Rhea-AI Summary

Exodus Movement, Inc. (EXOD) faced a delay in listing its Class A common stock on the NYSE American due to the SEC's review of its registration statement. The original listing date of May 9, 2024, has been postponed until the review is completed. The company's shares will continue to trade on the OTCQX exchange under the symbol 'EXOD' until further notice.

Positive

• None.

Negative

• The delay in listing on the NYSE American could create uncertainty among investors and affect the company's visibility in the market. The need for additional review by the SEC may indicate underlying concerns that could impact the stock's performance once listed. The postponement may also lead to missed opportunities for the company to attract new investors and potentially raise capital through the exchange listing.

OMAHA, Neb., May 08, 2024 (GLOBE NEWSWIRE) -- Exodus Movement, Inc. (OTCQX: EXOD) (the “Company” or “Exodus”) today announced that it was informed by the NYSE American that the exchange has delayed the Company’s listing until the Staff of the Securities and Exchange Commission completes its review of Exodus’ registration statement, which went effective on April 28, 2024. The NYSE American previously informed Exodus that its shares of Class A common stock, par value $0.000001 (the “Common Stock”), had been approved for listing with trading expected to commence on May 9, 2024.

The Company may reconsider listing on a national securities exchange at a future date once the SEC Staff has completed its review of the registration statement. Until such time, the Company’s Common Stock will continue to trade on OTC Markets’ OTCQX exchange under the symbol “EXOD.” Current stockholders of the Company do not need to take any action.

CEO JP Richardson shared “While we are surprised and confused by this last-minute decision, 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. In the meantime, we will continue to provide the best possible service and value for our customers and shareholders.”

Contact

Exodus Investor Relations
investors@exodus.com

About Exodus
Exodus is on a mission to help the world exit the traditional finance system. Founded in 2015, Exodus is a multi-asset software wallet that keeps design a priority to make cryptocurrency and digital assets easy for everyone. Available for desktop, mobile and browser, Exodus allows users to secure, manage and exchange cryptocurrencies like Bitcoin, Ethereum, and more across an industry-leading 10,000+ asset pairs from a beautiful, easy-to-use wallet. The self-custodial functionality is encrypted locally on users' own devices, ensuring privacy, security and complete control over their wealth. For more info visit exodus.com.

Disclosure Information
Exodus uses the following as means of disclosing material nonpublic information and for complying with disclosure obligations under Regulation FD: websites exodus.com/investors and exodus.com/blog; press releases; public videos, calls and webcasts; and social media: Twitter (@exodus_io and JP Richardson's feed @jprichardson), Facebook, LinkedIn, and YouTube.

Forward-Looking Statements
This press release contains forward-looking statements that are based on our beliefs and assumptions and on information currently available to us as of the date hereof. In some cases, you can identify forward-looking statements by the following words: “will,” “expect,” “would,” “intend,” “believe,” or other comparable terminology. Forward-looking statements in this document include, but are not limited to, quotations from management regarding confidence in our products, services, business trajectory and plans, and certain business metrics. These statements involve risks, uncertainties, assumptions and other factors that are difficult to predict and may cause actual results or performance to be materially and adversely different. These forward-looking statements speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.

FAQ

Why was Exodus' listing on the NYSE American delayed?

Exodus' listing was delayed due to the SEC's review of its registration statement, which postponed the original listing date on May 9, 2024.

Where can current stockholders find Exodus' Common Stock for trading during the delay?

During the delay, Exodus' Common Stock will continue to trade on the OTCQX exchange under the symbol 'EXOD.'

What action do current stockholders need to take during the delay in listing?

Current stockholders of Exodus do not need to take any action during the delay in listing on the NYSE American.

How has Exodus responded to the delay in listing?

Exodus remains hopeful for a swift resolution from the SEC and assures continued focus on providing value for customers and shareholders during the delay.