Business
WonderFi Enters into Definitive Agreement to be Acquired by Robinhood Markets
WonderFi will join Robinhood Crypto and continue to deliver crypto products to Canadian customers...
About this update from Wonderfi Technologies Inc
[{"type":"text","content":"WonderFi Enters into Definitive Agreement to be Acquired by Robinhood MarketsWonderFi will join Robinhood Crypto and continue to deliver crypto products to Canadian customers WonderFi shareholders to receive all-cash consideration of C$0.36 per Common Share Purchase price represents an attractive premium of approximately 41% to the closing price, and 71% to the 30-day VWAP, as of May 12Toronto, Ontario--(Newsfile Corp. - May 13, 2025) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (\"WonderFi\" or the \"Company\"), a Canadian leader in digital asset products and services, today announced that it has entered into a definitive agreement (the \"Arrangement Agreement\") with Robinhood Markets, Inc. (NASDAQ: HOOD) (\"Robinhood\") and a wholly owned subsidiary of Robinhood (\"Purchaser\"). Pursuant to the Arrangement Agreement, the Purchaser will acquire all of the issued and outstanding common shares of the Company (\"Common Shares\") for C$0.36 per Common Share by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia) (the \"Arrangement\"). The all-cash purchase price represents a total equity value of approximately C$250 million on a fully diluted, in-the-money basis, a premium of approximately 41% to the closing price of the Common Shares on the Toronto Stock Exchange (the \"TSX\") on May 12, 2025, the last trading day prior to the announcement of the Arrangement, and a premium of approximately 71% to the 30-day volume-weighted average trading price (\"VWAP\") of the Common Shares as at that date.\"Through a long and focused effort, WonderFi successfully built one of Canada's largest registered Crypto-Trading platforms,\" said Bobby Halpern, Executive Chairman of WonderFi. \"This transaction is the culmination of those efforts and the launchpad for Robinhood to democratize finance across Canada. The arrangement provides WonderFi shareholders with all-cash consideration at an attractive premium to our recent trading levels.\"\"WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike, making them an ideal partner to accelerate Robinhood's mission in Canada,\" said Johann Kerbrat, SVP and GM of Robinhood Crypto. \"We look forward to partnering with the WonderFi team to deliver innovative, user-centric crypto products to Canadian cus...