Exodus Movement, Inc., as per the company’s announcement today, has suffered an unanticipated setback in the NYSE American listing plans. The delay is based on the Securities and Exchange Commission (SEC) requiring additional time for the review of Exodus’s registration statement, which was declared effective on April 28, 2024. At first, NYSE American had accepted the Class A common stock of Exodus for listing, with trading scheduled to begin on May 9, 2024.
Exodus CEO hopes amidst the delay
CEO JP Richardson was shocked and puzzled by the last-minute move but hoped the SEC would respect the regulatory procedures. Richardson restated Exodus’ dedication to openness and responsiveness during the review period and hoped for a timely resolution from the SEC. However, he informed current stockholders that no action was necessary. Exodus’ Common Stock will continue to be traded on the OTC Markets OTCQX under the symbol “EXOD. ”
The delay in Exodus’s listing on NYSE American has led to speculation as to what caused the delay and how it might have affected the company’s plans. Once the SEC review is completed, Exodus may opt to relist on a national securities exchange at a subsequent date. The company is optimistic that it will list and submit to SEC evaluation.
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