Banxa Holdings puts itself on the block.
Banxa Holdings puts itself on the block.
2022-10-06 06:38 ET - News Release
Mr. Domenic Carosa reports
BANXA ENGAGES INVESTMENT BANK
Banxa Holdings Inc. is initiating a formal process to identify and evaluate strategic opportunities to maximize shareholder value after it had received several unsolicited proposals to consider strategic M&A (merger and acquisition) opportunities.
The board of directors of the company has appointed U.S.-based Architect Partners, a leading cryptocurrency-focused investment bank, to ensure that shareholder value is maximized and to manage the process. The company will update shareholders on any material changes of the proceedings.
"Banxa's board is excited about the company's future as Banxa continues to build important pieces of the global crypto market infrastructure. We remain committed to unlocking maximum value for our shareholders, whether that is through strategic deal making or further organic growth," said Domenic Carosa, the company's founder and chairman of the board.
The board will carefully evaluate all proposals and determine the path forward that is in the best interests of the company and all its shareholders. There can be no assurance that any definitive agreement will be completed, and all proposals are preliminary and non-binding.
About Banxa Holdings Inc.
Banxa's mission is to accelerate the world to Web3 with its leading global on-and-off-ramp solution. Through its extensive network of local payment solutions paired with the required crypto licences, Banxa gives its partners and projects access to global audiences with less friction and higher conversions. Banxa has a global team of Web3 natives -- with operating headquarters in the United States, Europe and Asia Pacific regions.
We seek Safe Harbor.