Exodus Movement, Inc. has encountered an unexpected setback in its plans to be listed on the NYSE American, according to an announcement made by the company today. The delay is due to the Securities and Exchange Commission (SEC) requiring more time to review Exodus’s registration statement, which became 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.
The CEO of Exodus, JP Richardson, expressed surprise and confusion at the last-minute decision but remained hopeful that the SEC would adhere to regulatory procedures. Richardson reiterated the company’s commitment to transparency and responsiveness during the review period and anticipated a timely resolution from the SEC. He also assured current stockholders that no action was required, as 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 regarding the cause and its 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 remains optimistic about being listed and undergoing evaluation by the SEC.
