Exodus Listing on NYSE American Delayed for SEC Review

Exodus Movement, a crypto wallet provider, has announced the postponement of its planned listing on NYSE American, the sibling market of the New York Stock Exchange. The delay comes as a result of ongoing review by the U.S. Securities and Exchange Commission (SEC).

According to a press release issued by Exodus on Wednesday, NYSE American informed the company that SEC staff were still scrutinizing Exodus' registration statement, which had become effective at the end of April.

Initially slated for Thursday, Exodus had intended to transition from over-the-counter (OTC) trading to a listing on NYSE American. However, its Class A Common Stock will continue trading on OTCQX for the time being.

Exodus expressed openness to revisiting the idea of listing on a national securities exchange once the SEC concludes its review of the registration statement.

CEO JP Richardson, in an earlier tweet, highlighted the potential benefits of the uplisting, envisioning it as a means to generate long-term value for investors and enhance stock liquidity.

Richardson conveyed surprise and confusion regarding the last-minute decision in Wednesday's statement, reiterating Exodus' commitment to transparency and responsiveness throughout the process. He expressed optimism for a prompt resolution from the SEC while reaffirming the company's dedication to delivering top-notch service and value to customers and shareholders.