Company: IMXI
Filing Date: 2025-11-05
Form Type: DEFM14A
Source: 0001140361-25-040538
Chunk: 76

Company: International Money Express, Inc.
Filing Date: 2025-11-05
Form: DEFM14A
Chunk 76
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 of Cravath, H&K, FTP and Lazard to discuss the current status of negotiations with Party B and Western Union. Representatives of FTP reviewed its preliminary financial analyses of Intermex and both proposals. The Board of Directors discussed with the advisors the Party B proposal, including a pricing collar for the exchange ratio with respect to the equity consideration component and termination fees. The Board of Directors also discussed with the advisors the Western Union proposal, including the fact that the nominal value of Western Union’s proposal was less than that of Party B’s proposal, that Western Union’s progress in completing its due diligence review was considerably behind that of Party B, the regulatory considerations with respect to each proposal and the view that there was greater risk of consummation of a transaction with Western Union. Representatives of Lazard presented information regarding Party B’s business and stock value and market trading characteristics, the potential effects of various collars on the exchange ratio, and the selection of inputs that would underly any financial fairness opinion to be provided by Lazard. Following lengthy discussion of the relative strengths and weaknesses of each counterparty’s proposal, each counterparty’s likelihood of entering into a definitive acquisition agreement, the extent to which each counterparty had completed due diligence, and other factors that the Board of Directors considered reasonable or necessary in order to make a determination in the best interest of Intermex’s stockholders, and in light of the robust, extensive and publicly announced solicitation process that Intermex had effected to seek strategic alternatives, the Board of Directors approved moving forward with Party B as the superior offer, including entering into an exclusivity agreement, provided that Party B was willing to accept an exchange ratio collar.

On June 24, 2025, the members of the Strategic Alternatives Committee, Intermex management and representatives of Lazard, FTP, Cravath and H&K exchanged communications regarding options for an exchange ratio collar with respect to the equity component of Party B’s proposed merger consideration. Following negotiations between representatives of each of FTP and Party B’s financial advisor, an agreement in principle with respect to an acceptable exchange ratio collar was achieved. On June 25, 2025, Intermex entered into a clean team agreement with Party B. On June 26, 2025, Intermex entered into an exclusivity agreement with Party B with an exclusivity period expiring on July 26, 2025, subject to an automatic seven day extension upon mutual agreement in writing that each party was working in good faith to complete a