SCHEDULE: Magnetar Funds Acquire 5.33% Stake in International Money Express Ahead of Western Union Merger

Magnetar Financial and affiliated funds have disclosed a 5.33% beneficial ownership in International Money Express Inc., positioning for the announced $16.00 per share cash merger with Western Union.

Summary

• Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman (collectively, the "Reporting Persons") have filed a Schedule 13D.
• The Reporting Persons beneficially own 1,583,685 shares of International Money Express Inc. (IMXI) Class A Common Stock.
• This ownership represents approximately 5.33% of IMXI's outstanding shares, based on 29,684,054 shares reported outstanding as of August 6, 2025.
• The aggregate amount of funds used for purchasing these shares was $23,349,641.67, excluding commissions and other execution-related costs.
• The shares were acquired after the public announcement of a Merger Agreement between IMXI and The Western Union Company, with the purpose of receiving the $16.00 per share cash merger consideration upon consummation.
• The Merger Agreement, announced on August 10, 2025, stipulates that IMXI will become a wholly-owned subsidiary of Western Union, with IMXI shareholders receiving $16.00 per share in cash.

Sentiment

Score: 7

Explanation: The sentiment is positive from the perspective of the Reporting Persons, as they are executing an arbitrage strategy based on a publicly announced merger, indicating confidence in the deal's completion and a profitable outcome for their investment. For the company, it's neutral as it's an external investor's action.

Positives

• The Reporting Persons' significant investment signals confidence in the successful completion of the announced merger between International Money Express Inc. and The Western Union Company.
• The acquisition of shares at an average price below the $16.00 per share merger consideration indicates a strategic arbitrage opportunity for the Reporting Persons, suggesting a positive return if the merger closes as planned.

Negatives

• No direct negatives for International Money Express Inc. are presented in this filing, as it primarily details an investor's position related to a merger.

Risks

• The primary risk for the Reporting Persons is that the announced merger between International Money Express Inc. and The Western Union Company may not be consummated on the agreed terms or at all.
• Changes in market conditions or regulatory approvals could impact the merger timeline or terms, potentially affecting the expected merger consideration.

Future Outlook

The Reporting Persons acquired their stake with the explicit purpose of receiving the $16.00 per share cash merger consideration upon the consummation of the announced merger between International Money Express Inc. and The Western Union Company. They reserve the right to acquire additional securities or dispose of their current holdings.

Industry Context

This filing highlights an arbitrage play in the financial services and money transfer industry, where an investor is taking a position in a target company (International Money Express) following the announcement of its acquisition by a larger industry player (Western Union). Such filings are common in M&A scenarios, as investors seek to profit from the spread between the current market price and the announced merger consideration, assuming the deal closes.

Stakeholder Impact

• Shareholders of International Money Express Inc. are directly impacted by the announced merger, as their shares will be converted into a cash payment of $16.00 per share. The filing by Magnetar reinforces the market's perception of the merger's likelihood.
• The Reporting Persons, as significant shareholders, stand to benefit from the merger consideration if the deal closes as expected.

Next Steps

• Consummation of the merger between International Money Express Inc. and The Western Union Company, at which point the Reporting Persons expect to receive $16.00 per share in cash for their holdings.

Key Dates

Keywords

International Money Express, IMXI, Western Union, Merger, Acquisition, Schedule 13D, Beneficial Ownership, Magnetar Financial, Arbitrage, Financial Services, Money Transfer