MX2 LLC Updates MEMX Holdings' Membership Rules Smoothly
Published Date: 9/29/2025
Notice
Summary
MX2 LLC is updating the main company agreement for MEMX Holdings LLC, which owns the exchange. This change affects how the company operates but doesn’t impact fees or timing for users. The update is effective immediately, keeping things smooth and clear for everyone involved.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
Warrants Programs: Members' Pre‑Emptive Right Removed
If you are a Member (an equity owner) of MEMX Holdings LLC, the Holdco LLC Agreement was changed to say Units or equity interests issued under an Exchange Warrants Program are excluded from certain Members' pre-emptive rights. Any such Exchange Warrants Program must be approved by the Holdco Board by Supermajority Board Vote and be effective pursuant to a rule filing with the SEC, and related equity issuances remain subject to the Holdco ownership limits (for example, no Exchange Member may own more than 20% of any class of Units).
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