Company: IMXI
Filing Date: 2025-10-21
Form Type: PREM14A
Source: 0001140361-25-038818
Chunk: 71

Company: International Money Express, Inc.
Filing Date: 2025-10-21
Form: PREM14A
Chunk 71
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 with Intermex management to discuss, among other things, fourth quarter and full year 2024 results. The Board of Directors, upon the advice and recommendation of the Compensation Committee of the Board of Directors, approved the compensation of the Strategic Alternatives Committee members in consideration of their significant efforts, including holding 15 formal meetings and numerous update calls and communications. Representatives of FTP presented a summary overview and update of the strategic alternative process in which FTP had conducted outreach to over 107 potential counterparties (30 strategics and 77 financial sponsors), of which 39 potential counterparties attended telephonic calls with FTP, 20 executed non-disclosure agreements, and six, including Western Union, attended meetings with Intermex senior management, noting that only Party A had submitted a proposal and none had made an actionable proposal with respect to a strategic transaction with Intermex. In light of these results, the Board of Directors discussed the status of the process, Intermex’s path forward in executing on its strategic plan to grow its digital business and enhance its retail services and products, and the ramifications of a possible suspension of the strategic alternatives process.

On February 25, 2025, the Strategic Alternatives Committee held a meeting with representatives of Cravath during which it reviewed the results of the strategic alternatives process and determined to unanimously recommend to the Board of Directors that it suspend the strategic alternatives process. The members of the Board of Directors were subsequently informed of that recommendation and on the same day acted by unanimous written consent to approve such suspension, with the Strategic Alternatives Committee remaining in place in the event of a change in circumstances.

In late February 2025, the Chief Executive Officer of a potential strategic counterparty (“Party B”) sent several text messages to Intermex’s Chief Executive Officer, Robert Lisy. Mr. Lisy did not engage in any communications with Party B at such time as such messages did not identify the sender, nor was the purpose of the outreach clear.

On February 26, 2025, Intermex released its fourth quarter and fiscal year 2024 earnings and announced suspension of the strategic alternatives process. On the trading day immediately prior to the announcement, the closing price on Nasdaq of Intermex’s common stock was $18.32, and on the trading day immediately following the announcement, such closing price was $15.26. Intermex communicated to the market, both through its press release and at its Investor Day conference held the same day, Intermex’s intention to invest heavily