WonderFi To Acquire Crypto Platform For $38.3 Million In Stock

WonderFi Technologies (NEO: WNDR) is acquiring another crypto platform. The firm this morning announced an all-stock transaction to acquire Coinberry, a crypto asset trading platform based in Canada.

The platform reportedly has seen transactions to date of over $1.0 billion since being established in 2017. The firm saw revenue of $13.0 million in 2021, with the platform reportedly having 220,000 users, although WonderFi doesn’t quantify whether these users are active. Assets under custody for the firm reportedly sit in excess of $100 million.

The platform is being purchased for $38.3 million in an all-stock deal, with 29.1 million shares to be issued to the selling shareholders of the company. Principals of the company will reportedly be subjected to a 24 months escrow schedule, while certain shareholders of the company will have a 12 month lock-up schedule.

Despite the significant price tag, the company appears to be focused on framing the entity as a cog in its crypto portfolio. On a combined basis, the firms crypto assets will have a reported 750,000 users post-closing, with the transaction said to have “numerous operational synergy and cost efficiency opportunities,” with the firms BitBuy and WonderFi assets. Potential savings in dollar terms was not provided.

The transaction is expected to close in the second quarter of 2022.

WonderFi last traded at $1.26 on the Neo.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Gold Could Easily Double Again in This Run!? | Dan Wilton – First Mining Gold

$3300 GOLD: Every $100 Rise in Gold Means Pure Profit |  Ross Beaty – Equinox Gold

First Majestic Silver: The Santo Nino Discovery

Recommended

Emerita Resources Intends To Appeal Exploitation License Granted To Minera Los Frailes

First Majestic Silver: The Santo Nino Discovery

Related News

WonderFi To Raise $35 Million Via Bought Deal, Insiders Unload 500,000 Shares

WonderFi Technologies (NEO: WNDR) last night announced it would be conducting a bought deal financing...

Thursday, January 13, 2022, 09:07:17 AM

Robinhood To Acquire WonderFi in $250M All-Cash Deal

Robinhood Markets (NASDAQ: HOOD) has struck a deal to acquire Canadian crypto platform WonderFi Technologies...

Tuesday, May 13, 2025, 04:44:57 PM

WonderFi Acquires 17,000 Client Accounts From Bitvo

WonderFi Technologies (TSX: WNDR) continues to consolidate that Canadian crypto landscape, announcing this morning that...

Wednesday, November 15, 2023, 08:33:00 AM

Austpro Energy To Join NEO Exchange Following Reverse Merger Deal With DeFi Ventures

Austpro Energy Corporation (TSXV: AUS-H) announced on Monday evening that it has received approval to...

Tuesday, August 17, 2021, 12:29:00 PM

WonderFi Looks To Raise $20 Million Via Bought Deal

WonderFi Technologies (NEO: WNDR) is looking to take advantage of the current positive sentiment within...

Tuesday, October 19, 2021, 08:41:54 AM