Welcome to our dedicated page for International Mny Express news (Ticker: IMXI), a resource for investors and traders seeking the latest updates and insights on International Mny Express stock.
International Money Express, Inc. provides omnichannel money remittance services focused on corridors from the United States and Canada to Latin America, the Caribbean and other international markets. Company news commonly covers digital money-transfer partnerships, payout-network expansion, wire transfer services, money order activity and technology used to support branded and business-to-business remittance programs.
Recurring developments include alliances with banks, fintechs and money service businesses, digital account-to-account receiving options, payroll card features, mobile and web remittance tools, and expansion of Intermex transfer infrastructure into additional corridors such as Canada, the Dominican Republic, Guatemala and Africa.
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International Money Express, Inc. (NASDAQ: IMXI) has announced an amendment to its revolving credit facility, increasing the maximum borrowing amount from $150 million to $220 million. The new terms and interest rates remain unchanged, with the facility set to mature in 2026.
Additionally, the amendment introduces an uncommitted incremental capacity of $70 million, available for future borrowing. The CFO, Andras Bende, stated that this financial flexibility could support organic growth and potential mergers and acquisitions, as well as facilitate opportunistic share buybacks.
Intermex operates a network for money remittance across more than 60 countries, using proprietary technology since its inception in 1994.
International Money Express, Inc. (NASDAQ: IMXI) will announce its First Quarter 2023 earnings on May 4, 2023, before market opening. The company will also host a conference call at 9:00 am ET on the same day to discuss financial and operational results. Investors can access the call by dialing 1-877-210-0456 for domestic or 1-212-231-2914 for international inquiries, or via a webcast. An audio replay will be available until May 18, 2023. Founded in 1994, Intermex provides money transfer services from the U.S., Canada, and Europe to over 60 countries, utilizing a network of agents, stores, a mobile app, and online services.
Intermex expands into the European remittance market
On April 5, 2023, International Money Express (NASDAQ: IMXI) announced the acquisition of LAN Holdings, Corp., which includes I-Transfer Global Payments, a Spain-based money transmitter. This acquisition enables Intermex to offer outbound remittances from Spain, Italy, and Germany for the first time, enhancing its presence in Canada and expanding its global footprint to over 60 countries.
Intermex paid $8.6 million for the acquisition, emphasizing its commitment to profitable growth and superior service for customers and partners.