Company: IMXI
Filing Date: 2025-11-05
Form Type: DEFM14A
Source: 0001140361-25-040538
Chunk: 72

Company: International Money Express, Inc.
Filing Date: 2025-11-05
Form: DEFM14A
Chunk 72
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.00 to $14.00 per share in all cash. The indication of interest included a statement that Western Union would expect to enter into employment agreements or retention arrangements with key members of senior management of the Company. The closing price on Nasdaq of Intermex’s common stock on April 15, 2025 was $11.83.

On April 25, 2025, Party B sent Intermex an initial indication of interest with a proposed merger consideration of $15.25 per share composed of 35% in Party B stock and 65% in cash. The closing price on Nasdaq of Intermex’s common stock on April 25, 2025 was $12.43.

On April 25, 2025, the Strategic Alternatives Committee held a meeting with Intermex management and representatives of H&K and FTP to discuss the proposals from Party B and Western Union, including strengths and weaknesses of each. In particular, the Strategic Alternatives Committee discussed the need for reverse due diligence with respect to Party B to validate its value in light of the equity component of its proposal. The Strategic Alternatives Committee also discussed earnings results from the first quarter of 2025, the decline in Intermex’s trading price, the increasingly challenging business environment and risks related to the digital business model. In light of these factors, the Strategic Alternatives Committee indicated a willingness to move forward with further discussions with both Western Union and Party B. FTP also informed the Strategic Alternatives Committee that none of the other potential counterparties contacted on March 12, 2025 had reengaged in the process.

On April 29, 2025, FTP shared the Updated Initial Projections with Western Union.

On May 1, 2025 and May 2, 2025, the Board of Directors held its regularly scheduled quarterly meeting and, among other things, discussed with Intermex management first quarter 2025 results, including a very significant year over year decline in the number of retail wire transactions, the revenue impacts of which were only partly offset by an increase in amount of funds sent per transaction. Intermex management also discussed the actual and potential negative effects of certain new U.S. federal government policies, including trade actions and immigration enforcement, on Intermex’s results and prospects. The Board of Directors also received an update from representatives of FTP regarding the potential counterparties contacted on or after March 12, 2025 that declined to reengage in the process as well as the status of