Intermex rises after initiating process to assess strategic initiatives

Shares of International Money Express, or “Intermex (IMXI),” are higher in Friday trading after the company reported operating results for the third quarter and announced it is initiating a process to assess strategic initiatives. Bob Lisy, Chairman, President, and CEO of Intermex, stated along with earnings this morning: “While we are confident that our differentiated, omnichannel strategy, is the right path forward for the Company, the Board of Directors along with the management team firmly believe that our current market valuation does not fully capture the Company’s performance, superior positive cash, intrinsic value or growth potential. We are committed to acting in the best interest of our shareholders, and to this end, we are initiating a process to assess strategic initiatives, which could include among others, a potential sale in a private transaction. The Company has retained FTP Securities LLC as its financial advisor in this process.” The company added: “There is no set timetable for the Board of Directors to review alternatives, and there can be no assurance that the exploration of strategic alternatives will result in any transaction or other action or change in the Company’s business plans. Any potential transaction or other strategic alternative would be dependent on a number of factors that may be beyond the Company’s control. The Company does not intend to discuss or disclose further developments unless and until the Board of Directors approves a specific action or otherwise concludes the review of strategic alternatives.” In Friday afternoon trading, shares of Intermex are up $2.41, or 13%, to $20.91.