Acquisition ConcernsWonderFi has agreed in principle to a Robinhood Markets, Inc. all-cash buyout offer at C$0.36 per share, or roughly C$250M, on a fully diluted, in-the-money basis.
Market ValuationTarget and estimates were trimmed due to soft March industry volume data and a lowered terminal EV/EBITDA multiple, reflecting increased macro uncertainty.
Regulatory RisksAssociated risks include crypto risk, potential regulation, bad actors’ illicit behavior on the Internet, and potential dilution.