Exodus Movement, Inc. announced today that it has encountered an unexpected setback in its plans to list on the NYSE American. The delay is due to the Securities and Exchange Commission (SEC) requiring additional time to review Exodus’s registration statement, which was declared effective on April 28, 2024. Initially, the NYSE American had accepted Exodus’s Class A common stock for listing, with trading set to commence on May 9, 2024.
CEO JP Richardson expressed surprise and confusion about the last-minute decision but remained hopeful that the SEC would adhere to the regulatory procedures. Richardson reiterated Exodus’s commitment to transparency and responsiveness during the review period and anticipated a timely resolution from the SEC. However, he assured current stockholders that no action was required. Exodus’s Common Stock will continue to be traded on the OTC Markets OTCQX under the symbol “EXOD.”
The delay in Exodus’s listing on the NYSE American has sparked speculation about the cause of the delay and its potential impact on the company’s plans. Once the SEC review is concluded, Exodus may consider relisting on a national securities exchange at a later date. The company maintains an optimistic outlook and is confident in its ability to meet the requirements for listing and undergo evaluation by the SEC.