Regulation A Stock Offering for Exodus Wallet Approved by SEC

As per the latest reports, Exodus has received a positive response from the SEC for a recent filing it had submitted at the regulator. Exodus, which is a famous wallet provider for cryptocurrencies in the United States had filed a proposal, requesting to sell its operation’s shares.

It has been confirmed that the US Securities and Exchange Commission has gone through the request and has approved it. Now that Exodus has received approval from the Securities and Exchange Commission, it will be able to sell the shares to the users.

Exodus made an official statement about receiving approval from the Securities and Exchange Commission on Thursday, April 8, 2021.

In the statement, the firm revealed that a leading software platform based on non-custodial cryptocurrencies has been developed by the Exodus Movement Inc. is reportedly a corporation that is based in Delaware.

The firm announced that the SEC has confirmed that their software platform has qualified under the “Regulation A” and will be able to offer Class A common stock to the consumers.

After getting approval from the SEC, Exodus launched its shares in the United States markets on the night of Friday, April 9, 2021. The teams at Exodus has confirmed that the users will be able to gain access to the shares trading feature through the Exodus wallets.

Exodus is one of the most prominent wallet providers in the United States as well as other parts of the world. The wallet is widely known for being compatible with desktops and browsers, offering users a wide range of digital assets/cryptocurrencies, they can operate in.

One of the best features offered by the Exodus wallet is that if lets the users exchange/swap digital assets within the wallet. Now that Exodus has the approval to offer shares, the users will be able to access shares through the application.

It was back in February when Exodus had revealed that it intended to offer its shares to the public. Therefore, in the same month, Exodus filed a proposal at the US Securities and Exchange Commission for approval.

In the proposal, Exodus had provided detailed information as to what the platform was planning to offer to the public in the paperwork. Regulation A approvals allow the companies to sell shares that are not registered. After receiving Regulation A approval from the SEC, Exodus is now exempt from being penalized for selling unregistered shares.

On Thursday, Exodus had revealed that at the time of the listing, the price of the share for Exodus would be $27.42 per unit. The investors will be allowed to purchase even a single share or buy as much as 2,733,229 shares in a single go.