Company: IMXI
Filing Date: 2025-10-21
Form Type: PREM14A
Source: 0001140361-25-038818
Chunk: 69

Company: International Money Express, Inc.
Filing Date: 2025-10-21
Form: PREM14A
Chunk 69
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 January 7, 2025, the Strategic Alternatives Committee held a meeting with Intermex management and representatives of Cravath, H&K, FTP, and Lazard. FTP provided a process update, including regarding FTP’s attempts to reengage certain strategic counterparties that had declined to participate in the process, and noted that the few other potential counterparties that remained active in the process were still at an early stage and were not yet in a position to submit a bid. The Strategic Alternatives Committee discussed the Party A Bid, including uncertainty regarding Party A’s financial capacity to consummate a transaction and transaction timing. The Strategic Alternatives Committee also discussed the challenges that Intermex was facing, including uncertainties caused by the political and economic conditions causing weakness in the retail business, as well as the uncertainties inherent in the shift to a digital service model. As part of that discussion, the Strategic Alternatives Committee raised questions regarding the assumptions in the Initial Projections and the feasibility of achieving the results in the Initial Projections. The Strategic Alternatives Committee also discussed with management the Initial Projections and their underlying assumptions, and requested that management make revisions to those assumptions that would more closely align with the evolving assessment of the key challenges to the successful realization of Intermex’s strategic plan.

On January 13, 2025, the Strategic Alternatives Committee held a meeting with Intermex management and representatives of Cravath, H&K, FTP and Lazard to further discuss the strategic alternatives process. Representatives of FTP reported that Party A remained engaged in the process but had indicated that it will have difficulties financing a potential transaction, provided an update as to the limited number of other counterparties that remained engaged in the strategic process, and discussed attempts to reengage certain other potential strategic counterparties, including Western Union, none of which had indicated that they were interested in reengaging. The Strategic Alternatives Committee also further discussed the updated alternative set of financial projections that had been prepared by management following the prior meeting at the request of the Strategic Alternatives Committee for internal use by the Strategic Alternatives Committee. The principal differences in the projections related to the speed with which Intermex’s retail business recovered from the weakness being observed by management in the second half of 2024 and the effectiveness of Intermex’s transition to a digital services model.

On January 16, 2025, upon instruction of the Strategic Alternatives Committee, H&K sent a notice to Western Union and one other potential strategic counterparty to return or destroy all