The United States Securities and Exchange Commission (SEC) approved Exodus Movement, Inc.’s application regarding the public launch of their company’s shares. Papers can be purchased directly from the Exodus Wallet, which supports bitcoin (BTC) and other cryptocurrencies.
The information was disclosed through a statement on April 8, 2021. This indicates that Class A shares began to be offered in the wallet from that same day.
On February 26 of this year, the Delaware-based firm registered its shares with the SEC for $ 75 million , at a price of $ 27.42 per share , according to the company’s official document.
The reason for choosing to be listed as Class A shares is that, in this way, Exodus can offer its shares equally to everyone without giving priority to accredited investors or private equity companies. With the proceeds, the company will seek to expand its services, according to reports.
As reported by CriptoNoticias on March 3, 2021, the shares can be managed from the Exodus wallet itself , as if it were any of the cryptocurrencies and tokens that the wallet supports. The firm will manage the transactions is called securitize, Inc . The company expects investors to receive their digitized common stock tokens within 7 months of approval .
The wallet itself added the option to “create an investor profile.” By clicking there, you request personal data, email address and photographs of identity documents. Then, that information goes through a verification process required to be able to buy the shares for $ 27.42 each.
Interested parties can purchase the shares with bitcoin (BTC), ether (ETH) and the stablecoin USD Coin (USDC).
From the Exodus wallet, users in the US can register as investors to acquire the shares of the company. Source: Screenshot, Exodus wallet.
Exodus shares only available in the United States, for now
The Exodus company clarifies that, at the moment, access to this initial offer is restricted to residents of the United States. In addition, there are certain areas of that country where the offer will not be available :
At this time, investors must reside in the United States of America. Offer is not available to individuals who reside in Arizona, Texas, or Florida. Exodus is currently exploring partnerships with Alternative Trading Systems (ATS) that could potentially expand the availability of Exodus shares. Exodus intends to make the Class A common share available for trading on various ATSs, including the TZERO ATS within nine months of this offering.
Exodus Movement, Inc.
In addition, the company communicates to investors from other countries that it is exploring partnerships with other entities, such as the MERJ Exchange, that could potentially make Exodus shares available to those in jurisdictions outside the United States.
The Exodus wallet, launched in 2015, is software for PCs and mobile devices that supports multiple crypto assets, including bitcoin, ether, XRP, Binance Coin, and various stablecoins. Its use and download is free. The company makes money by charging commissions for exchanges between cryptocurrencies and for API access licenses for developers.