Robinhood to Acquire Canada’s WonderFi for $179M in Global Crypto Expansion

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TheNewsCrypto 1d ago

Robinhood to Acquire Canada’s WonderFi for $179M in Global Crypto Expansion - TheNewsCrypto

Quick Summary:

Robinhood has announced a $179 million all-cash deal to acquire Canadian crypto firm WonderFi, accelerating its international expansion.

The agreement values WonderFi shares at C$0.36 each, representing a 41% premium over the May 12 closing price and a 71% premium over the 30-day volume-weighted average.

On the announcement, WonderFi’s stock jumped 34% to C$0.24 on the Toronto Stock Exchange.