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Business Wire
an hour ago
- Business
- Business Wire
Ionic Digital Issues Open Letter to Stockholders to Deliver Essential Facts Ahead of Annual Meeting
AUSTIN, Texas--(BUSINESS WIRE)--Ionic Digital Inc., (the 'Company' or 'Ionic'), an emerging innovator in digital infrastructure and bitcoin mining, today issued an open letter to stockholders to provide them with important information to enable them to make fully informed voting decisions regarding the two Class I seats up for election at the Ionic Digital Annual Meeting of Stockholders on July 2, 2025 (the 'Annual Meeting'). Specifically, the Company's Board of Directors and management shared its commitment to executing its strategic initiatives, the importance of experienced Board Members, and the focus on providing realistic near-term liquidity solutions that maximize stockholder value. The full text of the letter can be found below, or by visiting Dear Ionic Stockholders, The Board and management team understand and sympathize with the concerns of stockholders regarding liquidity and want to provide stockholders with important information to make fully informed decisions regarding the two Class I seats up for election at the Ionic Digital Annual Meeting of Stockholders on July 2, 2025. We believe the considerable progress made on our strategic initiatives will best position the Company to provide a value-maximizing liquidity solution for Ionic stockholders in the near future and remind stockholders to not be distracted by the disruptive efforts of non-stockholders that might delay such efforts for their own purposes. During this period, it is critical to have Board Members with the wide range of professional experience and expertise required to guide the Company as it seeks to achieve its objectives; Ms. LaPuma is the only nominee with decades of professional experience in capital markets, corporate finance, and corporate transformation, making her uniquely qualified to serve as a Director and provide stockholders with liquidity solutions. The Board believes that Nominating Stockholders, Veton Vejseli, Brett Perry, and Christopher Villinger (the 'Nominating Stockholders') and their non-stockholder financial backers, Mike Cagney, his company Figure Markets and a co-founder of GXD Labs, have personal interests that may conflict with the interests of other Ionic stockholders. More specifically, Mr. Cagney is intent on listing Ionic common stock on Figure Markets' unproven Alternative Trading System ('ATS') and has enlisted Mr. Vejseli, Mr. Perry, and Mr. Villinger to nominate Michael Abbate, a Figure Markets shareholder and former Chief Investment Officer of Figure Markets, for election to Ionic's Board, a direct conflict of interest, which Mr. Vejseli has publicly acknowledged during recent testimony in the Delaware Court of Chancery: 'Look it's not [a] secret that Mike Abbate, one of Figure Markets' employees, is one of our nominees for the Board. So, there's an obvious assumed interest…'—Veton Vejseli 5/8/25 Additionally, we believe Oliver Wiener, also a director candidate proposed by the Nominating Stockholders, cannot be trusted to serve on the Company's board as he is a former advisory board member to FTX prior to its catastrophic collapse and led an investment in FTX while he was a Portfolio Manager at Standard Industries, displaying his track record of inadequacy in assessing investment risks. Ionic warns stockholders to not be deceived by the self-serving interests of non-stockholders who seek to undermine the considerable progress made on the Company's strategic initiatives to advance their own commercial interests at the expense of Ionic stockholders. We Remain Committed to Executing our Strategic Initiatives with a Focus on Sustainable, Long-term Value Creation: In the first five months of 2025, Ionic has mined approximately 709.8 BTC before hosting fees, at a daily average hash rate of 8.50 EH/s, and held approximately 2,520.2 BTC on its balance sheet as of May 31, 2025 Retained leading investment banking, accounting, tax, and legal advisors to assess and pursue strategic, operational and financial alternatives to provide stockholder liquidity, and maximize stockholder value Expects to provide FY 2024 financial results during the week of June 23, 2025, and to aggressively push to realize a pathway to liquidity for stockholders promptly thereafter Maintained zero-debt position while continuing to invest in infrastructure upgrades and exercised diligent risk management Fully energized 234-MW Cedarvale facility and actively engaged in robust marketing process to lease the facility Therefore, the Board unanimously recommends that stockholders vote FOR the Company's highly qualified nominee, Elizabeth LaPuma, on the WHITE proxy card and IGNORE the GOLD proxy card. YOUR VOTE IS IMPORTANT! If you have questions about the Annual Meeting or how to vote your shares, please contact Innisfree M&A Incorporated by calling (877) 750-2689 (toll free from the U.S. or Canada) or +1 (412) 232-3651 (from other countries), or visit Thank you for your continued support. Sincerely, /s/ Anthony McKiernan Anthony McKiernan Interim Chief Executive Officer /s/ Thomas DiFiore Thomas DiFiore Director /s/ Scott Duffy Scott Duffy Director /s/ Scott Flanders Scott Flanders Director /s/ Elizabeth LaPuma Elizabeth LaPuma Chair About Ionic Digital Ionic Digital is a prominent Bitcoin miner and emerging innovator in energy monetization. With facilities across the United States and more than 110,000 active miners, Ionic expects to drive the next generation of energy efficient, low-cost computing through sustainable Bitcoin mining. For more information, visit and follow us on X at @IonicDigital.
Business Wire
05-05-2025
- Business
- Business Wire
Matrix Executions Delivers Enhanced Performance with Matrix QRX ATS in US Listed Options
CHICAGO--(BUSINESS WIRE)--Matrix Executions, a leading provider of advanced options execution solutions, highlights the rapid growth and performance of its Matrix QRX ATS, resulting in substantial price improvement and enhanced execution quality for its Order Flow Provider (OFP) clients trading US listed options. Matrix QRX ATS, a proprietary electronic trading process and registered options Alternative Trading System (ATS), leverages Matrix's sophisticated execution algorithms to seamlessly connect OFPs with a rapidly expanding network of Liquidity Providing Organizations (LPOs). This LPO network expansion has increased price improvement opportunities, improved liquidity access, and effectively helps mitigate trading costs. Key Performance Metrics for Marketable Orders on the Matrix QRX ATS: *Previous data does not guarantee future performance 'We are thrilled to witness the tangible benefits our clients are realizing with the Matrix QRX ATS,' stated Jordan Naylor, CEO of Matrix Executions. 'While significant growth potential remains, the quantifiable price improvement and compelling E/Q scores achieved in the initial launch phase highlights the technology's performance.' The Matrix QRX ATS allows OFPs, encompassing institutional trading and retail-wholesaler participants, to submit outright and complex orders as blind indications of interest (IOIs) to LPOs for competitive quoting prior to marketplace routing. A two-stage auction approach drives execution opportunities, beginning with competitive quoting in the ATS and culminating in a price improvement auction at multiple exchanges for matched orders. This process, combined with Matrix's smart routing capabilities and enhanced price discovery algorithm suite, maximizes the potential for optimal executions and adherence to best execution practices. 'The data from our ATS validates the efficacy of our technology and the strength of our liquidity partnerships,' added Joe Corona, Chief Strategy Officer at Matrix. 'We are committed to further strengthening these relationships while enhancing our platform's features to deliver superior value to our clients.' About Matrix Executions: Matrix Executions is a Chicago based agency-only broker dealer specializing in trading solutions for US Equity and Options. Our mission is to provide cutting-edge products that empower traders in an ever-evolving market landscape with a focus on transparency, customization, and innovation. We are dedicated to delivering exceptional solutions and results to the institutional trading community. For more information about Matrix Executions and Matrix QRX ATS, please reach out to sales@ or visit our website at
Associated Press
15-04-2025
- Business
- Associated Press
Securitize Acquires MG Stover's Fund Administration Business to Become the Largest Digital Asset Fund Administrator
Securitize Fund Services now administers over $38 billion in assets across 715 funds MIAMI, April 15, 2025 /PRNewswire/ -- Securitize, the leading platform for real-world asset tokenization, has announced the acquisition of MG Stover's Fund Administration business, the pioneering fund administration firm for digital assets. With this acquisition, Securitize's subsidiary, Securitize Fund Services ('SFS'), becomes the world's largest digital asset fund administrator. This acquisition significantly expands SFS, enhancing its ability to provide best-in-class fund administration, compliance, and reporting solutions to institutional-grade asset issuers and investors, while seamlessly integrating with Securitize's broader offerings, including a broker-dealer and digital transfer agent capabilities, tokenization platform, operator of an alternative trading system (ATS), and digital asset management. As of Monday April 14, 2025*, Securitize has issued $3.3B+ in assets on-chain, including: 'Securitize's acquisition of MG Stover's Fund Administration business cements our role as the most comprehensive platform for institutional grade real-world asset tokenization and fund administration,' said Carlos Domingo, Co-Founder & CEO of Securitize. 'This is a significant step in our growth, reinforcing our commitment to expanding our capabilities as we serve an ever-expanding cohort of asset issuers and investors.' Founded in 2007, MG Stover's Fund Administration team has built a reputation for high-touch service, investor-focused solutions, and cutting-edge technology. By joining Securitize Fund Services, the team will add its expertise to a platform that facilitates fund administration alongside a broader suite of regulated financial services, including: Following the acquisition of MG Stover's Fund Administration business, SFS will service $38 billion in assets across 715 funds. For more information, visit About Securitize Securitize, the leader in tokenizing real-world assets, is bringing the world on-chain through tokenized funds in partnership with top-tier asset managers, such as Apollo, BlackRock, Hamilton Lane, KKR and others. Securitize, through its subsidiaries, is a SEC-registered broker dealer, digital transfer agent, fund administrator and operator of a SEC-regulated Alternative Trading System (ATS). Securitize has also been recognized as a 2025 Forbes Top 50 Fintech company. For more information, please visit Securitize Disclosures Securities are offered through Securitize Markets, LLC, ('Securitize Markets') a registered broker-dealer and member FINRA/SIPC. Securitize Markets, LLC, and Securitize Capital, an Exempt Reporting Adviser, are not involved in either Real-World Asset (RWA) tokenization, a service provided by Securitize Inc., nor fund administration, a service provided by Securitize Fund Services, LLC. Assets such as digital assets or tokens using blockchain, are speculative, involve a high degree of risk, are generally illiquid, may have no value, have limited regulatory certainty, are subject to potential market manipulation risks and may expose investors to loss of principal. Securitize, Inc. (Securitize) is a Delaware corporation. Securitize is a technology provider which, together with its affiliates, maintains an end-to-end web-based platform used by issuers for issuing securities, specifically including digital asset securities. Securitize is not a registered broker-dealer. Securitize, LLC is a transfer agent registered with the U.S. Securities and Exchange Commission. Securitize Markets also operates Securitize Markets ATS, an alternative trading system. Securitize Capital, LLC is an exempt reporting adviser filed with the State of Florida. *Data as of April 14, 2025. Source: Past performance is not indicative of future results. View original content to download multimedia: SOURCE Securitize
Associated Press
14-03-2025
- Business
- Associated Press
Ionic Digital Reaffirms Commitment to Maximizing Stockholder Value and Opposes Self-Serving Agenda of Figure Markets and GXD Labs
AUSTIN, Texas--(BUSINESS WIRE)--Mar 14, 2025-- The Ionic Digital Inc. ('Ionic' or the 'Company') Board of Directors (the 'Board'), today issued an open letter to stockholders reaffirming its unwavering commitment to maximizing stockholder value, optimizing its Bitcoin mining operations, and providing stockholder liquidity by taking the necessary steps toward listing Ionic shares on a national securities exchange or engaging in complementary or alternative transactions. The open letter also provides context on the recent decision in the Delaware Court of Chancery (the 'Court') regarding the sharing of the Company's confidential stockholder list. The open letter can be read below: Dear Ionic Stockholders: The Board remains fully aligned with stockholders in our mission to maximize value and provide a path toward stockholder liquidity. By contrast, non-stockholders Mike Cagney, his company Figure Markets and a founder of GXD Labs ('GXD') are driven solely by their own commercial interests—seeking to have Ionic's stock listed exclusively on Figure Markets' unproven Alternative Trading System ('ATS') (thus making it the first security to list on Figure Markets' ATS) and pushing for lucrative management contracts to be awarded to GXD. These self-serving objectives do not align with the best interests of Ionic stockholders. To advance their agenda, Figure Markets and GXD have resorted to leveraging three record stockholders, Brett Perry, Veton Vejseli, and Christopher Villinger, to file lawsuits in their name aimed at obtaining access to Ionic's confidential stockholder list. The intent of Figure Markets and GXD is to use this sensitive information—including stockholder names, addresses, emails, and phone numbers—for their own commercial gain, including engaging proxy solicitors to advance their purported highly conflicted nominees, Michael Abbate and Oliver Weiner, to the Board. Their goal is clear: to extract financial benefits for these non-stockholders at the expense of the Ionics's actual stockholders. Delaware Court of Chancery Limits Access to Confidential Stockholder Information Ionic Digital is pleased that the Delaware Court of Chancery has recognized the Company's valid concerns regarding stockholder privacy. The Court issued a ruling on March 13, 2025, limiting Figure Markets' and GXD's access to the Company's confidential stockholder list. Additionally, the Court ruled that the Company has the right to seek legal fees from GXD due to its improper attempt to block Ionic from obtaining discovery, and the Board notes that any recovery of these legal fees from non-stockholder GXD will directly benefit Ionic's stockholders. Further, the Court determined that the parties will negotiate and submit for the Court's approval a confidentiality agreement outlining the restricted extent to which Figure Markets and GXD may access stockholder information. This outcome reinforces Ionic's commitment to protecting stockholders' personal data and ensuring transparency in the election of a director at the upcoming Annual Meeting. Annual Meeting Adjourned to Ensure Fair Process for Stockholders To ensure that stockholders have a fully informed and fair opportunity to participate in the corporate governance process, the Company's Annual Meeting—originally scheduled for March 17, 2025—will be adjourned without conducting any business until approximately 30 days after the Court of Chancery rules following an early May 2025 trial on several outstanding issues, including: (1) Plaintiffs' claim that the size of the Board of Directors should be held by the Court to consist of six directors, rather than the current five directors; (2) Plaintiffs' claim that certain nominees for election as director(s) of the Company's at the Annual Meeting should be deemed by the Court as having complied with the Company's Advance Notice Bylaws Section 2.4; and (3) Plaintiffs' claim that the quorum requirements at the Annual Meeting should not be set according to Bylaws but instead should be set by order of the Court. The Board looks forward to engaging with stockholders and demonstrating why its nominee is best positioned to enhance stockholder value, while making clear that the purported nominees proposed and acting on behalf of Figure Markets and GXD serve only the commercial interests of these non-stockholders, who seek to extract financial gain through lucrative service contracts at the expense of Ionic's actual stockholders. Ionic Digital remains steadfast in its focus on maximizing stockholder value, growing its Bitcoin mining operations, and achieving a national stock exchange listing or engaging in complementary or alternative transactions to provide liquidity for all stockholders. The Board will continue to act in the best interests of its stockholders and unanimously recommends stockholders to vote FOR Elizabeth LaPuma by using the WHITE proxy card to protect the Company from opportunistic efforts that could undermine its long-term success. Sincerely, /s/ Thomas DiFiore Director /s/ Scott Duffy Director /s/ Scott Flanders Director /s/ Elizabeth LaPuma Chair About Ionic Digital Ionic Digital is a prominent Bitcoin miner and emerging innovator in energy monetization. With facilities across the United States and a total capacity of 394 megawatts, Ionic expects to drive the next generation of energy efficient, low-cost computing through sustainable Bitcoin mining. The Company's strategic initiatives focus on operational efficiency, transparency, and securing long-term financial growth for its investors. For more information, visit and follow us on X at @IonicDigital. SOURCE: Ionic Digital Inc. Copyright Business Wire 2025. PUB: 03/14/2025 11:56 AM/DISC: 03/14/2025 11:56 AM
