EXOD · Exodus Movement, Inc.

Exodus Movement, Inc., as a secured lender, exercised its rights following W3C Corp.'s failure to repay a $70 million term loan governed by English law, where shares in UK subsidiaries Monavate Holdings Limited, Monavate Ltd, and Baanx.com Ltd served as collateral. After declaring the loan payable on demand on April 13, 2026, and issuing a final repayment demand on April 27, 2026, by 5:00 p.m. BST—which went unsatisfied—Exodus appointed experienced receivers from AlixPartners, including two Partners and Managing Directors with over 55 years in UK restructuring. This move enables control over the pledged shares and initiates a sale process, with Exodus planning to participate as a bidder to recover its investment. CEO JP Richardson emphasized decisive action to safeguard shareholders, noting operational continuity for Monavate and Baanx stakeholders. The disclosure under Item 7.01, including Exhibit 99.1, is not deemed 'filed' under the Exchange Act, limiting its incorporation into other filings. Investors should monitor the sale outcome, as recovery of the $70 million principal could materially impact Exodus's financial position amid its self-custodial crypto platform operations.