Company: IMXI
Filing Date: 2025-11-05
Form Type: DEFM14A
Source: 0001140361-25-040538
Chunk: 61

Company: International Money Express, Inc.
Filing Date: 2025-11-05
Form: DEFM14A
Chunk 61
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need for additional investment in Intermex’s digital business and the significant challenges to executing on that strategy, the negative trends limiting growth of Intermex’s retail business which comprised the overwhelming majority of its revenue, capital market conditions and relatively low valuation accorded to Intermex. In light of these factors, the Board of Directors discussed the possibility of exploring strategic alternatives and instructed management to assess the feasibility of a potential strategic alternatives exploration process for the Board of Directors to consider. On August 19, 2024, at the direction of the Board of Directors, members of Intermex senior management met with representatives of Financial Technology Partners LP (“FTP”), which had a long-term pre-existing engagement as Intermex’s financial advisor, to discuss a possible strategic process and FTP’s role as the financial and strategic advisor to Intermex. On August 26, 2024, the Board of Directors held a meeting with members of Intermex senior management and representatives of H&K, where, among other things, the Board of Directors was provided an update regarding a potential strategic process, strategic business plans and market trends. The Board of Directors also discussed the two stockholder letters and instructed senior management to continue its analysis of Intermex’s strategic alternatives.

Following the third quarter of 2024, Intermex management continued to take note of difficult market conditions, particularly in retail remittances, which had resulted in a year over year decline in third quarter 2024 revenues. On October 30, 2024 and October 31, 2024, the Board of Directors held its regularly scheduled third quarter 2024 meetings. At the October 30, 2024 meeting, the Board of Directors discussed a potential strategic alternatives process with Intermex senior management and representatives of FTP and H&K. Representatives of FTP provided a market update regarding the money transmission and payments industry and a potential strategic alternatives process for Intermex. Representatives of H&K reviewed a presentation regarding the fiduciary duties of the Board of Directors, including as related to a strategic alternatives process and the potential sale of Intermex. The Board of Directors discussed, among other things, various strategic alternatives available to Intermex, including logistics and governance of a strategic alternatives process, establishing a strategic alternatives committee and market communication strategies regarding a strategic process. On November 1, 2024, the Board of Directors held a telephonic meeting with Intermex management and representatives of FTP and H&K to further consider a potential strategic