Exodus Movement, Inc. Initiates Legal Action to Enforce W3C Acquisition – Shareholder Update

OMAHA, Neb., April 13, 2026 – Exodus Movement, Inc. (NYSE American: EXOD), a leading self-custodial cryptocurrency platform, has taken significant legal action to enforce its previously announced acquisition of W3C Corp. This move is likely to have implications for shareholders, as it relates to a major strategic expansion in Exodus’s core fintech and crypto infrastructure business.

Key Points from the 8-K Filing

• Background:
  • On November 24, 2025, Exodus entered into a Stock Purchase Agreement with W3C Corp. (“Target”) and Garth Howat (“Seller”), agreeing to acquire all issued and outstanding shares of W3C.
  • The Target includes subsidiaries Monavate Holdings Ltd. and Baanx, with Monavate providing global payment solutions for fintech, Web3, and enterprises, and Baanx offering non-custodial cards and B2B2C digital asset services.
• Lawsuit Filed:
  • On April 13, 2026, Exodus filed a lawsuit in the Delaware Court of Chancery against W3C Corp and its CEO, Garth Howat, seeking to compel them to fulfill their obligations under the Stock Purchase Agreement and close the transaction.
  • Exodus has also declared loans provided to W3C as payable on demand and exercised its rights under the loan-related security arrangements.
  • The company believes it will prevail in obtaining a judicial order to force the completion of the acquisition on the agreed terms.
• Regulatory Approvals Secured:
  • On April 8, 2026, Exodus obtained all necessary approvals from the United Kingdom Financial Conduct Authority (FCA) to close the W3C acquisition.
  • This regulatory milestone removes a major barrier to closing the deal.
• Management Commentary:
  • JP Richardson, CEO and Co-founder of Exodus, stated: “We have a binding agreement with W3C and expect it to be fully honored. We’re confident in the path forward and anticipate a swift resolution.”
• Next Steps – Investor Update:
  • Exodus’s management team will provide a further update on the W3C acquisition and outline the company’s forward-looking roadmap at the upcoming Exodus Summit on May 1, 2026, in Omaha, Nebraska.

Implications for Shareholders

• Price-Sensitive Developments
  • The legal action to compel W3C and its CEO to complete the acquisition is a material event. If Exodus is successful, shareholders could see strategic expansion into new revenue streams, with Monavate and Baanx adding global fintech and digital asset card capabilities to Exodus’s portfolio.
  • The outcome of the litigation and the ultimate closing of the transaction may significantly affect Exodus’s growth prospects and financial performance.
  • Exodus’s assertion of its loan rights and security interests against W3C may provide downside protection or leverage in negotiations, which could be favorable for Exodus shareholders.
• Regulatory Clearance
  • With FCA approval secured, the only major remaining hurdle is the legal action to enforce the closing, reducing deal uncertainty and potentially accelerating integration if successful.
• Forward-Looking Statements
  • The company has made forward-looking statements regarding the likelihood of prevailing in court and the expected benefits of closing the acquisition. These statements are subject to risks, including litigation outcomes and other factors detailed in Exodus’s SEC filings.

About Exodus Movement, Inc.

Founded in 2015, Exodus Movement, Inc. (NYSE American: EXOD) is a prominent self-custodial finance platform empowering users to earn rewards, spend, manage, and swap digital assets globally without relinquishing control. Exodus’s software and enterprise solutions serve millions of users, and the company is headquartered in Omaha, Nebraska.

Contacts & Further Information

• Investor Contact: [email protected]
• Media Contact: Aubrey Strobel / Elena Nisonoff, Halcyon Communications – [email protected]
• Company Website: exodus.com
• Investor Relations: exodus.com/investors

Disclosure Information

Exodus uses its website, press releases, public videos, calls, webcasts, and social media (including X/Twitter, Facebook, LinkedIn, and YouTube) as means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD.

Forward-Looking Statements Disclaimer

This article contains forward-looking statements, including but not limited to the likelihood of closing the W3C transaction and the outcome of Exodus’s legal action. These statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially. Factors that may affect these outcomes are described in Exodus’s filings with the SEC, including its Form 1-K filed on March 11, 2026. Readers should not place undue reliance on such statements. Except as required by law, Exodus undertakes no obligation to update or revise any forward-looking statements.