The facts are sourced from an 8-K filed with the SEC via EDGAR, published on November 25, 2025. The deal's current status is pending regulatory review.
Financial advisory roles are disclosed for both sides, without a lead designation specified. D.A. Davidson is serving as financial advisor to W3C, the target, per the statement "D.A. Davidson is serving as financial advisor and Latham & Watkins, LLP as legal counsel to W3C." On the acquirer side, Perella Weinberg is serving as financial advisor to Exodus, consistent with the language "Perella Weinberg is serving as financial advisor to Exodus."
Legal advisors are disclosed for both sides. Latham & Watkins, LLP is serving as legal counsel to W3C, the target. On the acquirer side, Gibson, Dunn & Crutcher LLP and Hogan Lovells are both acting as legal counsel to Exodus, with Gibson Dunn specifically noted as lead M&A counsel, per the source sentence "Gibson, Dunn & Crutcher LLP and Hogan Lovells are legal counsel to Exodus, with Gibson Dunn serving as lead M&A counsel."
Beyond the classification of this transaction as a cash acquisition with a disclosed value of $175,000,000, no further detail on payment structure, financing sources, or other specific terms is included in the facts provided.
Several items are not disclosed in this record: no detail on financing sources for the cash consideration is provided, and no expected closing date is given beyond the pending-regulatory status.