Mogo Inc. Plays A Pivotal Role In Wonderfi’s Acquisition By Robinhood Markets
$MOGO
In a significant development in the digital finance sector, Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO), a prominent player in digital wealth and payments, has announced that its portfolio company, WonderFi Technologies Inc. (TSX:WNDR), will be acquired by Robinhood Markets, Inc. (NASDAQ:HOOD). This transaction is set to reshape the landscape of cryptocurrency trading platforms in Canada.
Mogo, which is the largest shareholder of WonderFi, holding approximately 82 million shares, has played a crucial role in orchestrating this deal. The acquisition agreement, valued at about C$250 million, represents a premium of approximately 41% over the closing price of WonderFi’s common shares on the Toronto Stock Exchange as of May 12, 2025 and a 71% premium over the 30-day volume-weighted average price.
Greg Feller, Mogo’s President & Chief Financial Officer, expressed his support for the transaction, highlighting the immediate liquidity and value it delivers to shareholders at a compelling premium. Feller also noted Mogo’s instrumental role in the merger of Coinsquare and WonderFi back in July 2023, which significantly bolstered WonderFi’s market position by combining two of Canada’s leading crypto trading platforms.
The acquisition is structured through a statutory plan of arrangement and is subject to approval by WonderFi’s shareholders, along with certain regulatory approvals. The transaction is anticipated to close in the second half of 2025, following the satisfaction of these conditions. The digital finance sector continues to grow, the implications of such transactions will likely play a crucial role in shaping the future of financial technology in Canada and beyond.
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