Robinhood To Acquire WonderFi In $179M Deal To Expand Crypto Reach: Retail Stays Neutral

Robinhood will acquire WonderFi’s shares at C$0.36 apiece, marking a premium of roughly 41% compared to its most recent closing price.

Shares of financial services provider Robinhood Markets Inc. (HOOD) surged 6.3% on Tuesday after the company acquired Canadian cryptocurrency platform, WonderFi Technologies Inc.

Under the agreement, Robinhood will purchase WonderFi's outstanding common shares in an all-cash transaction valued at approximately C$250 million ($179.10 million).

Robinhood will acquire WonderFi’s shares at C$0.36 apiece, marking a premium of roughly 41% compared to its most recent closing price and approximately 71% above its 30-day volume-weighted average as of May 12. 

WonderFi provides centralized and decentralized financial services in Canada, managing over C$2.1 billion in client assets.

WonderFi Executive Chairman Bobby Halpern said the transaction is the launchpad for Robinhood to democratize finance across Canada.

The deal, which still requires the nod from regulators and shareholders, is anticipated to be finalized in the latter half of 2025.

On completion, WonderFi’s staff will become part of Robinhood Crypto and will join more than 140 Robinhood employees based in Canada.

Robinhood plans to finance the purchase with cash on hand. As of March 31, 2025, the company held $4.4 billion in cash and equivalents.

Robinhood’s cryptocurrency revenue for the first quarter (Q1) was $252 million, a 30% decrease from the fourth quarter (Q4) of 2024.

On Stocktwits, retail sentiment surrounding Robinhood shares remained ‘Neutral.’ 

Robinhood stock has gained 68.7% this year and saw a 271.8% jump in the last 12 months.

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