W3C Corp, the parent company of Monavate and Baanx, has agreed to be acquired by Exodus. D.A. Davidson acted as strategic advisor in the acquisitions of Monavate and Baanx, sell-side advisor in connection to the sale to Exodus, and arranged acquisition financing.

NEW YORK: D.A. Davidson & Co. announced today that it served as exclusive strategic and financial advisor to W3C Corp, comprised of its subsidiaries Monavate Holdings Ltd. (“Monavate”) and Baanx.com Ltd. and Baanx US Corp (collectively, “Baanx”), in connection with its sale to Exodus Movement, Inc. (NYSE American: EXOD) for $175 million, subject to regulatory approvals. D.A. Davidson also advised W3C Corp on its acquisitions of Monavate and Baanx, as well as arranged a $60 million term loan facility to support the combination.

W3C Corp, created through its acquisitions of Monavate and Baanx, is a global end-to-end payments infrastructure provider with capabilities spanning across card issuing, processing, compliance and regulatory infrastructure, digital asset payments and settlement, and hybrid fiat-on-chain financial services. Monavate is a global leader in payment solutions for fintech, Web3, and global enterprises, and Baanx is a leading provider of non-custodial cards and B2B2C digital asset services.

The acquisition by Exodus represents a strategic combination of complementary capabilities. Upon the closing of the acquisition, Exodus plans to enter the arena of on-chain payments to become one of the few self-custodial wallets to control the end-to-end payments experience, from wallets to cards. Additionally, Monavate and Baanx bring issuing, processing, and regulatory capabilities that Exodus expects to integrate directly into its existing consumer and enterprise product suite. By way of this transaction, Exodus will assume ownership of the underlying card and payments stack, reducing its dependence on third-party providers and supporting a wider range of assets - including widely-used payment stablecoins.

“We are thrilled to join forces with Exodus as we enter this new phase of our evolution together,” said Michael Rolph, CEO of W3C Corp. “This partnership creates a powerful synergy between end-to-end payments infrastructure and one of the most trusted names in the crypto and digital asset wallet space. Partnering with D.A. Davidson to lead us on this complex journey was the right decision. Their resilience, tenacity, deep domain expertise, and technical prowess enabled us to achieve this exceptional outcome.”

Lee Johnstone, CFO of W3C Corp, added, “Exodus shares our vision of bridging traditional finance and decentralized finance. Together, we will deliver unparalleled solutions to consumers and businesses worldwide. We were equally thrilled by our partnership with D.A. Davidson. The team’s strategic guidance and commitment to helping us achieve this milestone were invaluable.”

“This deal is transformational for the stablecoin payments infrastructure ecosystem and highlights the growing importance of regulated payment rails as stablecoins move toward mainstream adoption,” commented Aalap Merchant, Managing Director and Co-Head of Technology Investment Banking at D.A. Davidson. “We are proud to have supported W3C Corp across multiple stages of its growth, culminating in this landmark transaction. We look forward to seeing the combined company drive the next wave of growth in digital finance.”

D.A. Davidson’s Technology Investment Banking practice has completed over 125 transactions representing approximately $25 billion in value since 2020, with deep expertise across fintech, software, and digital infrastructure.

Fonte: Business Wire