Latest news with #WonderFi
National Post
2 days ago
- Business
- National Post
Mogo's WonderFi Stake Set for Monetization Following Shareholder Approval of Robinhood Acquisition
Article content Paves the way for expanded Bitcoin treasury strategy and strategic investments in Mogo's digital finance platform Article content VANCOUVER, British Columbia — Mogo Inc. (NASDAQ: MOGO; TSX: MOGO), a digital wealth and payments company, today provided an update on the previously announced acquisition of WonderFi Technologies Inc. ('WonderFi') by Robinhood Markets, Inc. ('Robinhood'). Article content On July 17, 2025, WonderFi announced that its securityholders voted in favor of the proposed acquisition at a special meeting of securityholders. The full voting results and next steps can be found in WonderFi's press release. Article content Mogo is WonderFi's largest shareholder, holding approximately 82 million common shares of the company. Article content 'We're pleased to see WonderFi shareholders strongly support this transaction, which marks another step forward toward closing,' said Greg Feller, President of Mogo. 'As WonderFi's largest shareholder, we expect this deal to unlock significant liquidity that will further strengthen our balance sheet and enhance our strategic flexibility.' Article content Feller added, 'This event is a meaningful catalyst for Mogo. It gives us the opportunity to make strategic investments in our platform while continuing to increase our exposure to Bitcoin, consistent with our long-standing belief in Bitcoin as a superior long-term store of value. As always, we intend to allocate capital with discipline and maintain Bitcoin as our benchmark hurdle rate.' Mogo was among the first publicly traded companies in Canada to adopt Bitcoin as a treasury asset in 2020 and has consistently expressed its conviction in the long-term value of Bitcoin. Mogo recently approved an expanded Bitcoin treasury authorization of up to C$50 million and expects to update shareholders following the closing of the WonderFi transaction. The transaction is expected to close in the second half of 2025 and remains subject to customary regulatory approvals and other closing conditions. Article content About Mogo Article content Mogo Inc. is on a mission to build the future of intelligent finance, empowering consumers to grow wealth through a suite of innovative financial products and a capital strategy anchored by Bitcoin. The company's platform combines digital wealth management and lending with a growing commitment to hard asset capital allocation. Mogo is publicly listed on the NASDAQ and TSX. Article content Forward-Looking Statements Article content This news release may contain 'forward-looking statements' within the meaning of applicable securities legislation, including statements regarding the expected closing of the WonderFi-Robinhood transaction, Mogo's Bitcoin treasury strategy, Mogo's capital allocation strategy, and Mogo's strategic initiatives in respect of its digital finance platform. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at the time of preparation, are inherently subject to significant business, economic and competitive uncertainties and contingencies, and may prove to be incorrect. Forward-looking statements are typically identified by words such as 'may', 'will', 'could', 'would', 'anticipate', 'believe', 'expect', 'intend', 'potential', 'estimate', 'budget', 'scheduled', 'plans', 'planned', 'forecasts', 'goals' and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Mogo's growth, its ability to expand into new products and markets and its expectations for its future financial performance are subject to a number of conditions, including receipt of applicable regulatory approvals in respect of its products, many of which are outside of Mogo's control. For a description of the risks associated with Mogo's business please refer to the 'Risk Factors' section of Mogo's current annual information form, which is available at and Except as required by law, Mogo disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Article content Article content Article content Article content Contacts Article content Article content Article content
Business Wire
2 days ago
- Business
- Business Wire
Mogo's WonderFi Stake Set for Monetization Following Shareholder Approval of Robinhood Acquisition
VANCOUVER, British Columbia--(BUSINESS WIRE)--Mogo Inc. (NASDAQ: MOGO; TSX: MOGO), a digital wealth and payments company, today provided an update on the previously announced acquisition of WonderFi Technologies Inc. ('WonderFi') by Robinhood Markets, Inc. ('Robinhood'). On July 17, 2025, WonderFi announced that its securityholders voted in favor of the proposed acquisition at a special meeting of securityholders. The full voting results and next steps can be found in WonderFi's press release. Mogo is WonderFi's largest shareholder, holding approximately 82 million common shares of the company. 'We're pleased to see WonderFi shareholders strongly support this transaction, which marks another step forward toward closing,' said Greg Feller, President of Mogo. 'As WonderFi's largest shareholder, we expect this deal to unlock significant liquidity that will further strengthen our balance sheet and enhance our strategic flexibility.' Feller added, 'This event is a meaningful catalyst for Mogo. It gives us the opportunity to make strategic investments in our platform while continuing to increase our exposure to Bitcoin, consistent with our long-standing belief in Bitcoin as a superior long-term store of value. As always, we intend to allocate capital with discipline and maintain Bitcoin as our benchmark hurdle rate.' Mogo was among the first publicly traded companies in Canada to adopt Bitcoin as a treasury asset in 2020 and has consistently expressed its conviction in the long-term value of Bitcoin. Mogo recently approved an expanded Bitcoin treasury authorization of up to C$50 million and expects to update shareholders following the closing of the WonderFi transaction. The transaction is expected to close in the second half of 2025 and remains subject to customary regulatory approvals and other closing conditions. About Mogo Mogo Inc. is on a mission to build the future of intelligent finance, empowering consumers to grow wealth through a suite of innovative financial products and a capital strategy anchored by Bitcoin. The company's platform combines digital wealth management and lending with a growing commitment to hard asset capital allocation. Mogo is publicly listed on the NASDAQ and TSX. Forward-Looking Statements This news release may contain 'forward-looking statements' within the meaning of applicable securities legislation, including statements regarding the expected closing of the WonderFi-Robinhood transaction, Mogo's Bitcoin treasury strategy, Mogo's capital allocation strategy, and Mogo's strategic initiatives in respect of its digital finance platform. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at the time of preparation, are inherently subject to significant business, economic and competitive uncertainties and contingencies, and may prove to be incorrect. Forward-looking statements are typically identified by words such as "may", "will", "could", "would", "anticipate", "believe", "expect", "intend", "potential", "estimate", "budget", "scheduled", "plans", "planned", "forecasts", "goals" and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Mogo's growth, its ability to expand into new products and markets and its expectations for its future financial performance are subject to a number of conditions, including receipt of applicable regulatory approvals in respect of its products, many of which are outside of Mogo's control. For a description of the risks associated with Mogo's business please refer to the 'Risk Factors' section of Mogo's current annual information form, which is available at and Except as required by law, Mogo disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Business Insider
4 days ago
- Business
- Business Insider
'…Clearly Suboptimal': Wonderfi Stock (TSE:WNDR) Notches Up as Robinhood Subsidiary Buys In
It was, perhaps, one of the biggest deals that few even realized was going on. Financial technology (fintech) stock WonderFi (TSE:WNDR) shareholders recently approved a planned sale of the company to Wrangler Holdings, a subsidiary of Robinhood (HOOD). The move was reasonably welcome, even if it might have been a bit messier than some would have liked. Shares notched up fractionally in Friday morning's trading as a result. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. The deal calls for WonderFi shareholders to get $0.36 per share, and those brokers who hold warrants on the stock will get paid according to Black-Scholes values on the warrants outstanding, reports note. Most of the shareholders who voted were in favor of the move, as reports suggest that 96.28% of all shareholders voted in favor of the deal. When the broker warrant holders were factored in, that number rose to 96.3%. In an odd twist, though, most shareholders actually did not vote either way. Over 321 million votes were cast, reports noted, which represented 48.36% of all outstanding shares. Regulatory and court approvals will have to go through, of course, and the Supreme Court of British Columbia is set to start a hearing somewhere around July 21 into the matter. '…Clearly Suboptimal' In a report that might explain why voter turnout was so low on this issue, we find that the process of WonderFi selling itself to Robinhood was a bit contentious. Glass Lewis, a proxy advisory firm, called the process '…clearly suboptimal' in reports. It did recommend that shareholders go through with the deal, but it was clearly not pleased with how the deal was set up. The report also noted that getting the deal done required '…multiple seven-figure fees, compensation packages and other payments….' It even noted that one activist investor, who apparently threatened to reveal issues of '…unspecified allegations of poor governance…,' got a $6 million settlement out of the deal. In the strangest twist of all, the chair of the board will receive $1.8 million personally for '…acting like an investment banker.' Is WonderFi a Good Stock to Buy? Turning to Wall Street, analysts have a Moderate Buy consensus rating on TSE:WNDR stock based on one Buy and one Hold assigned in the past three months, as indicated by the graphic below. After an 84.21% rally in its share price over the past year, the average TSE:WNDR price target of C$0.60 per share implies 71.43% upside potential.
National Post
5 days ago
- Business
- National Post
John Ivison: Canada's letting Americans hack apart our crypto industry. We may soon regret it
The shareholders of leading Canadian crypto trading platform WonderFi approved the sale of the company to American financial services giant Robinhood Markets on Thursday. Article content The shareholders of WonderFi, which owns the Coinsquare and Bitbuy crypto exchanges, are happy, not least the company's chairman, who stands to earn nearly $2 million for brokering the $250-million deal. Article content Article content But not everyone thinks this deal should be allowed to stand, particularly when it has been reported there are interested Canadian bidders. (The Logic reported this week that Toronto online brokerage, Questrade, has expressed interest.) Article content Jim Balsillie, the Blackberry founder and chair of the Council of Canadian Innovators, sees the sell-off as another example of Canada giving away its best ideas. Article content Article content Coinsquare, the WonderFi subsidiary, holds the licence as the first fully regulated investment dealer and marketplace with the Canadian Investment Regulatory Organization (CIRO). Article content 'As a CIRO-regulated marketplace, WonderFi is Canadian institutional infrastructure,' said Balsillie in an interview. 'A Robinhood takeover means that the ownership business model decisions and deposits will no longer be domestic. For decades, global markets have been suffused with strategic behaviour to affect state sovereignty, prosperity and security. It's high time for Canada to do the same.' Article content Article content Balsillie has long argued for more robust economic nationalism and been critical of the Canada-U.S.-Mexico trade deal for making it easier for the Americans to undermine homegrown innovation. Article content Article content The election of President Donald Trump, with his aggressively protectionist agenda, has seen the world come round to Balsillie's way of thinking, as he outlined in an article in this newspaper — ' We are all economic nationalists now ' — earlier this year. Article content In the past year, Canada has tightened up the Investment Canada Act (ICA) in an effort to safeguard national security and economic interests. The number of extended reviews is up by nearly one-quarter and a number of divestment orders have been issued. Article content Yet the ICA only calls for reviews on a net-benefit basis on deals over $2 billion for companies from trade-agreement partners. Ottawa can order a national security review on deals of any size, but neither the Industry Department nor WonderFi could confirm whether a review is taking place in this case.
The Market Online
5 days ago
- Business
- The Market Online
WonderFi shareholders approve acquisition by Robinhood subsidiary
WonderFi Technologies (TSX:WNDR) shareholders have approved the proposed acquisition of the company by Wrangler Holdings, a subsidiary of Robinhood Markets (NASDAQ:HOOD) WonderFi shareholders will receive $0.36 per share, while broker warrant holders will be compensated based on the Black-Scholes value of their warrants The acquisition marks a significant step in Robinhood's expansion into the Canadian fintech space WonderFi stock (TSX:WNDR) last traded at $0.35 WonderFi Technologies (TSX:WNDR) announced that its shareholders and holders of broker warrants have overwhelmingly approved the proposed acquisition of the company by Wrangler Holdings Inc., an indirect, wholly-owned subsidiary of Robinhood Markets (NASDAQ:HOOD). This content has been prepared as part of a partnership with WonderFi Technologies Inc. and is intended for informational purposes only. According to a media release, the approval came during a special meeting held on July 17, 2025, where securityholders voted in favour of the plan. The acquisition marks a significant step in Robinhood's expansion into the Canadian fintech space. The special resolution received strong support across all voting categories: 96.28 per cent of votes cast by shareholders, of votes cast by shareholders, 96.3 per cent of votes cast by shareholders and broker warrant holders voting as a single class, of votes cast by shareholders and broker warrant holders voting as a single class, 94.07 per cent of votes cast by minority shareholders, excluding those required to be excluded under Multilateral Instrument 61-101. In total, over 321 million votes were cast, representing approximately 48.36 per cent of all outstanding shares as of the record date. Under the terms of the arrangement, WonderFi shareholders will receive $0.36 per share, while broker warrant holders will be compensated based on the Black-Scholes value of their warrants as of the business day prior to closing. Detailed instructions for receiving payment are outlined in the company's management information circular dated June 13, 2025, available on SEDAR+. WonderFi is now seeking a final order from the Supreme Court of British Columbia, with a hearing expected around July 21, 2025. The transaction is anticipated to close in the second half of 2025, pending final regulatory and court approvals. Since this was initially announced back in May, Wonderfi's stock jumped 8 cents and has stayed elevated. (Wonderfi stock chart – April 2025 to July 2025.) This acquisition intends to strengthen Robinhood's presence in Canada's digital asset and fintech markets, aligning with its broader strategy of international growth. WonderFi Technologies owns and operates Bitbuy and Coinsquare, two Canadian cryptocurrency platforms, which serve more than 1.6 million registered users and hold more than C$1.5 billion in assets under custody combined. The crypto stock is also active internationally through its acquisition of FX Institutions, an Australian crypto trading and remittance provider, as well as through Smartpay, its global crypto payments platform. WonderFi stock (TSX:WNDR) last traded at $0.35. Join the discussion: Find out what the Bullboards are saying about WonderFi Technologies and check out Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here .
