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Exodus Goes Public On Securitize Markets After $75M Crowdfund Capital Raise

Exodus, the major software cryptocurrency wallet, has gone public on the digital asset securities firm Securitize Markets after a $75 million crowdfund capital raise.

It has been reported that Exodus’ shares started trading on Securitize last Wednesday, allowing investors from all across the United States and international investors from more than 40 countries to trade the Exodus Class A common stock.

However, trading under the ticker symbol EXOD, the Exodus Class A common stock is digitally represented on the Algorand blockchain via common stock tokens. According to a spokesperson for Exodus, Securitize Markets is the second trading venue to list Exodus shares after launching on tZero in September 2021.

JP Richardson, the CEO and co-founder of Exodus, said:

“Securitize’s platform enabled us to onboard over 6,800 mostly retail investors and raise $75 million. Now, with the trading of Exodus shares on their platform, it's all under one roof. We are very excited about the increased ability to trade our shares.”

As reported previously, Exodus raised $75 million via a mini initial public offering sale approved by the US Securities and Exchange Commission in May 2021. The SEC previously registered the Securitize platform as a transfer agent in 2019.

The report said that the digital securities platform is backed by some major crypto companies and investors including Coinbase, Morgan Stanley investment funds, and Blockchain Capital.

Carlos Domingo, the CEO of Securitize, said:

“Now that Exodus shares are available for retail investors to trade on Securitize Markets, a bigger market for their shares, price discovery and liquidity potential has been created, and this should be an example to many other private businesses that want to raise capital from their community.”

Exodus initially sold its shares at a price of $27.42 per unit. According to the latest available data on TradingView, Exodus was trading at $15.9 last Monday. Exodus, founded in 2015, is a major software cryptocurrency wallet integrated with a decentralized crypto exchange.

Thus, last week, the company reported nearly $96 million in revenues for the fiscal year of 2021, which is a 350% increase year-over-year.

Source: Cointelegraph


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