Exodus Movement, Inc. (Exodus Wallet: EXIT), a Delaware corporation that has developed a leading non-custodial cryptocurrency software platform, closed its offering of Class A common stock under Regulation A on May 5, 2021.
The full amount that had qualified under the company’s offering circular, 2,733,229 shares, was purchased by investors. The offering resulted in demand from both institutional and retail investors and significantly expanded the ownership base through the addition of over 6,800 new shareholders.
The company expects to use the proceeds from the offering for the continued expansion of its platform, with a focus on software development and increasing its marketing efforts to attract additional customers to its platform.
JP Richardson, co-founder and CEO Exodus, said: “Given the novel approach to fundraising, our utilization of blockchain technology and all the challenges faced, we were blown away by the response. There’s a lot of excitement and gratitude around the company to be joined by 6,800+ new stakeholders in our mission. This offering reinforces our core belief that if you democratize financial systems and make finance easy, people will participate and benefit from opportunities traditionally available to only the wealthy elite. Retail investors who bought a couple shares got the exact same deal as billionaires. That felt pretty cool and true to the spirit of blockchain and the crypto community.”
“Looking ahead, we are focused on enabling secondary trading and accommodating investors located outside of the United States. We will remain steadfast in our mission to continually expand and evolve Exodus to offer customers more capabilities. Additionally, we are excited about the opportunity to replicate this fundraising model to enable like-minded companies to also enter the public markets in this democratized fashion. We expect these strategies will drive long-term stakeholder value.”Exodus CEO & Co-Founder, JP Richardson
About Exodus
Founded in 2015, Exodus is a multi-asset software wallet that removes the geek requirement and keeps design a priority to make cryptocurrency and digital assets easy for everyone. Available for desktop and mobile, Exodus allows users to secure, manage and exchange cryptocurrencies like Bitcoin, Ethereum, Ripple, and more across an industry-leading 10,000+ asset pairs from a beautiful, easy to use wallet. The non-custodial functionality is encrypted locally on users’ own devices, ensuring privacy, security and complete control over their wealth. Exodus is on a mission to empower half the world to exit the traditional finance system by 2030. Exodus is working with our partners Securitize and tZERO to get the EXIT shares ready for trading on the secondary market. Management anticipates this process could be completed within 60 days. Prior to the availability of any secondary market trading, EXIT shares will remain priced at $27.42 and will be visible in your Exodus wallet like any other digital asset in your portfolio.
Photo by Alex Korolkoff on Unsplash
More Articles:
GTII Announces Update Regarding Tokenization and Dividend of Picasso Engraved Etching