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SEC filingExodus Movement, Inc. filed a lawsuit in Delaware Court of Chancery against W3C Corp. and Garth Howat to compel closing of the previously announced acquisition under the November 24, 2025 Stock Purchase Agreement.
Exodus Movement, Inc. is aggressively pursuing closure of its acquisition of W3C Corp. through legal action in the Delaware Court of Chancery, targeting W3C and seller Garth Howat to enforce the Stock Purchase Agreement signed on November 24, 2025. The deal involves acquiring full ownership of W3C, which encompasses Monavate—a global payment solutions provider for fintech and Web3—and Baanx, a key player in non-custodial cards and B2B2C digital asset services. This escalation follows Exodus securing necessary UK Financial Conduct Authority approvals on April 8, 2026, and declaring W3C loans payable on demand while exercising security rights, signaling readiness to close despite counterparty resistance. CEO JP Richardson emphasized confidence in a binding agreement and swift resolution, underscoring the strategic priority of integrating these assets to bolster Exodus's self-custodial platform with enhanced payment and digital asset capabilities. Investors should note the forward-looking intent to provide a detailed update and growth roadmap at The Exodus Summit on May 1, 2026, though success hinges on litigation outcome amid disclosed risks in SEC filings.