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VANCOUVER - Mogo Inc. (NASDAQ:MOGO; TSX:MOGO), a fintech company whose stock has surged nearly 49% over the past six months according to InvestingPro data, announced Monday that WonderFi Technologies Inc. shareholders have voted in favor of the company’s acquisition by Robinhood Markets, Inc.
As WonderFi’s largest shareholder with approximately 82 million common shares, Mogo stands to receive significant liquidity from the transaction, which is expected to close in the second half of 2025, subject to regulatory approvals and other closing conditions. With a current market capitalization of $45.6 million and a healthy current ratio of 3.94, Mogo maintains strong liquidity positions.
"We’re pleased to see WonderFi shareholders strongly support this transaction, which marks another step forward toward closing," said Greg Feller, President of Mogo, in a press release statement.
The digital wealth and payments company indicated it plans to use proceeds from the deal to make strategic investments in its platform while increasing its Bitcoin holdings. Mogo was among the first publicly traded Canadian companies to adopt Bitcoin as a treasury asset in 2020.
The company recently approved an expanded Bitcoin treasury authorization of up to C$50 million and expects to provide shareholders with updates following the completion of the WonderFi transaction. For deeper insights into Mogo’s financial health and growth potential, investors can access comprehensive analysis and 10 additional key insights through InvestingPro’s detailed research reports.
Mogo described the transaction as a "meaningful catalyst" that would strengthen its balance sheet and enhance strategic flexibility. The company stated it intends to "allocate capital with discipline and maintain Bitcoin as our benchmark hurdle rate."
The vote by WonderFi securityholders took place on July 17, with full voting results available in WonderFi’s press release.
In other recent news, Mogo Inc. reported its Q1 2025 financial results, showing a slight increase in revenue to $16.7 million from $16.4 million the previous year. The company maintained positive adjusted EBITDA of $1.1 million, reflecting a 6.1% margin. Mogo has also announced a strategic decision to allocate up to $50 million to Bitcoin, indicating a long-term commitment to integrating cryptocurrency into its capital strategy. This move includes the adoption of Bitcoin as a corporate hurdle rate for future capital allocation decisions. Additionally, Mogo completed a strategic investment by acquiring a 9% stake in Digital Commodities Capital Corp., a company focused on Bitcoin and gold. The company has also repurchased approximately 2% of its outstanding shares in Q2 2025, reflecting its commitment to shareholder value. H.C. Wainwright reiterated a Buy rating on Mogo, citing the company’s strategy as a way for investors to gain Bitcoin exposure without direct operational impact from cryptocurrency price changes.
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