Robinhood Completes C$250M WonderFi Acquisition; Shares Fall 4.5% on Lawsuit Review
HOOD•HOOD•HOOD•HOOD•Robinhood has completed the C$250 million acquisition of WonderFi, buying all shares at C$0.36 apiece and delisting the company from the TSX. Earlier the stock slipped 4.47% after the U.S. Supreme Court agreed to review a class-action claim alleging IPO misrepresentations and dependence on GameStop/Dogecoin trading.
Robinhood finalized its statutory plan of arrangement to acquire all issued and outstanding WonderFi common shares at C$0.36 per share, valuing the deal at approximately C$250 million on a fully diluted basis. The transaction makes WonderFi a wholly owned subsidiary and its shares are set to be delisted from the Toronto Stock Exchange on June 2, 2026.
The U.S. Supreme Court intervened to review a class-action lawsuit claiming Robinhood misled investors about its IPO financials and dependence on trading frenzies from GameStop and Dogecoin. The announcement contributed to a 4.47% drop in the company’s share price as investors weigh potential legal risks.
