Voyager Digital Provides Market Update

Voyager Digital Provides Market Update
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NEW YORK, June 27, 2022 /PRNewswire/- Voyager Digital Ltd. (“Voyager” or the “Company”) (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2) announced today that its operating subsidiary, Voyager Digital LLC, has issued a notice of default to Three Arrows Capital (“3AC”) for failing to make required payments on its previously disclosed 15,250 BTC loan and $350 million USDC. Voyager intends to pursue the recovery of 3AC and is in discussions with the Company’s advisors regarding available legal remedies.

The platform continues to operate and fulfill customer orders and withdrawals. From June 24, 2022Voyager was about US$137 million own cash and crypto assets available. The Company also has access to previously announced 200 million US dollars cash and USDC revolver and a 15,000 BTC revolver from Alameda Ventures Ltd.

The company has agreed 75 million US dollars of the line of credit made available by mall and you can continue to use the mall facilities to facilitate customer orders and pickups as needed. Failure to comply with 3AC does not create a breach of contract with mall.

“We are working diligently and promptly to strengthen our balance sheet and looking for options to continue meeting customer liquidity demands,” he said. Stephen EhrlichCEO of Voyager.

As part of this process, the Company has engaged Moelis & Company as financial advisors.

About Voyager Digital Ltd.

Voyager Digital Ltd. (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2) The US subsidiary, Voyager Digital, LLC, is a cryptocurrency platform in the United States founded in 2018 to bring choice, transparency and profitability to the market. Voyager offers a secure way to trade over 100 different crypto assets using its easy to use mobile app. Through its subsidiary Coinify ApS, Voyager offers crypto payment solutions for consumers and merchants around the world. For more information about the company, visit

Forward-looking statements

Certain information in this press release, including, but not limited to, statements about future business growth and performance, momentum in business, future adoption of digital assets, credit agreement availability, impact of 3AC default in the Company, including its ability to use the credit agreement, the Company’s liquidity and ability to meet customer orders and withdrawals and the Company’s anticipated results may constitute forward-looking information (collectively, forward-looking statements), which can be identified by the use of terms such as “may”, “will”, “should”, “expect”, “anticipate”, “project”, “estimate”, “intend”, “continue” or “believe” (or the negative) or other similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Voyager’s actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by the statements. to future. In addition, we operate in a very competitive and rapidly changing environment. From time to time new risks emerge. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any future . – statements we can make. In light of these risks, uncertainties and assumptions, future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied by forward-looking statements. There is no guarantee that the funds available under the Loan agreement will be available in a timely manner or, even if available, together with any other assets of Voyager will be sufficient to safeguard the client’s assets and there is no guarantee that Voyager will comply with the conditions. necessary to have the line of credit. It is not clear how much Voyager will be able to recover from 3AC for non-payment and whether 3AC’s default will constitute a default under its credit agreement or the legal protections available to Voyager in relation to such non-payment or business impact. Voyager’s future, cash flows, liquidity and prospects as a result of 3AC’s failure to pay. Forward-looking statements are subject to the risk that the global economy, industry, or the Company’s businesses and investments may not perform as anticipated, that estimates of income or expenses may not be met, or may be materially lower or higher than anticipated. , that the parties to whom the Company lends assets are able to repay such loans in full and on a timely basis, that business momentum does not continue or demand for business solutions declines, customer acquisition does not increase as planned, product and international expansion does not occur as planned, the risks of compliance with laws and regulations that currently apply or will apply to the business and those other risks contained in the Company’s public records, including its Management Discussion and Analysis and its Information Form. annual information (IDA). Factors that could cause the actual results of the Company and its businesses to differ materially from those described in such forward-looking statements include, among others, the inability to withdraw funds from the credit facility or access other sources of financing, an increase in customer demands for withdrawals from the platform, any insolvency or similar proceeding with respect to 3AC, a downturn in the digital asset market, or general economic conditions; changes in laws or approaches to regulation, failure or delay in the adoption of digital assets and the blockchain ecosystem by institutions; changes in the volatility of cryptocurrencies, changes in the demand for Bitcoin and Ethereum, changes in the status or classification of cryptocurrency assets, cybersecurity breaches, delay or failure in the development of infrastructure for commercial businesses or in compliance of mandates and gaining traction; lack of growth in assets under management, an adverse development with respect to an issuer or party to the transaction, or failure to obtain required regulatory approval. Readers are cautioned that Platform Assets and trading volumes fluctuate and may rise and fall from time to time and that such fluctuations are beyond the Company’s control. Forward-looking statements, past and present performance, and trends are not guarantees of future performance, therefore, you should not place undue reliance on forward-looking statements, current or past performance, or current or past trends. Information identifying assumptions, risks and uncertainties related to the Company is found in its filings with Canadian securities regulators available at Forward-looking statements in this press release speak only as of the date of this release or the date specified in the relevant forward-looking statement and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances. after that date or to reflect the occurrence of unforeseen events, except as required by law. The Company undertakes no obligation to provide operational updates, except as required by law. If the Company updates one or more forward-looking statements, it should not be inferred that it will make any further updates with respect to those or other forward-looking statements, except as required by law. Readers are cautioned that past performance is not indicative of future performance and current trends in business and demand for digital assets may not continue and readers should not place undue reliance on past performance and current trends. There is no guarantee that the transactions contemplated in the non-binding term sheet will be completed or, if completed, will be carried out on the agreed terms. There is no guarantee that the funds available under the loan agreement will be available or, even if available, together with any other assets of Voyager, will be sufficient to safeguard the client’s assets. In the event that customer demand for withdrawals exceeds the Company’s available cash and ability to withdraw credit lines, the Company may not be able to meet all customer requests.

The TSX has neither approved nor disapproved the information contained in this document.

SOURCE Voyager Digital Ltd.

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