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    VOYG   CA92919V4055

VOYAGER DIGITAL LTD.

(VOYG)
  Report
Delayed Toronto Stock Exchange  -  12:19 2022-07-05 pm EDT
0.4700 CAD   +40.30%
07/04Voyager Digital Drops 34% as Suspends Crypto Trading, Deposits, Withdrawals and Rewards
MT
07/04Voyager Digital Shares Continue Plunge After Suspending Trade on Its Platform
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07/04Voyager Digital Suspends Crypto Trading, Deposits, Withdrawals and Rewards
MT
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Voyager Digital Secures $200 Million Loan Amid Crypto-Market Liquidity Crisis

06/22/2022 | 06:51am EDT

By Adriano Marchese


Embattled cryptocurrency platform Voyager Digital Ltd. said Wednesday that its subsidiary has signed an agreement with trading firm Alameda Ventures Ltd. for a $200 million loan to safeguard its customers' assets from a crypto market-wide liquidity crisis.

Voyager Digital said its subsidiary, Voyager Digital Holdings Inc., agreed to the $200 million cash and USDC revolver--a U.S. dollar-pegged stablecoin--and a 15,000 bitcoin revolver.

Almeda currently owns around 11.56% of Voyager shares.

Voyager has had a rough go in recent months as the entire cryptocurrency market continues to face volatility.

Since the beginning of the year, Voyager shares have been down nearly 90% to C$1.60, in step with other peers in the crypto-exchange space while the price of Bitcoin has also taken a hit, falling 57% to US$20,527.70 year-to-date.

The company said its operating subsidiary Voyager Digital LLC, may issue a notice of default to hedge fund Three Arrows Capital, or 3AC, to which its exposure consists of 15,250 BTC and $350 million USDC. Voyager has requested a payment of $25 million USDC by June 24 and subsequently requested repayment of the entire balance of USDC and BTC by June 27.

3AC has failed to make repayments owed to Voyager. 3AC has only a few days to meet its repayments to Voyager before they constitute an event of default. The company said it intends to pursue recovery from 3AC but cautioned that it doesn't know how much it will be able to recover.

Voyager said the new money is intended to be used to safeguard its customer assets "in light of current market volatility and only if such use is needed."

Voyager said it also has around $152 million in cash and owned crypto assets on hand, as well as around $20 million of cash that is restricted for the purchase of USDC.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

06-22-22 0851ET

Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN (BTC/EUR) 4.72% 19370 End-of-day quote.-53.92%
BITCOIN (BTC/USD) 4.91% 20242 End-of-day quote.-57.60%
VOYAGER DIGITAL LTD. 37.31% 0.47 Delayed Quote.-97.88%
All news about VOYAGER DIGITAL LTD.
07/04Voyager Digital Drops 34% as Suspends Crypto Trading, Deposits, Withdrawals and Rewards
MT
07/04Voyager Digital Shares Continue Plunge After Suspending Trade on Its Platform
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07/04Voyager Digital Suspends Crypto Trading, Deposits, Withdrawals and Rewards
MT
07/01Crypto lender Voyager Digital suspends withdrawals, deposits
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07/01Cryptocurrency Platform Voyager Digital Temporarily Suspends Trading, Other Functions
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07/01Voyager Digital Provides Market Update
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07/01Voyager Digital LLC Provides Market Update
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06/30Three arrows plunged into liquidation
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06/27Voyager Digital Unit Provides Notice of Default to Three Arrows Capital; Up Nearly 4% i..
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06/27Crypto broker Voyager Digital issues default notice to Three Arrows Capital
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More news
Financials (USD)
Sales 2022 447 M - -
Net income 2022 -103 M - -
Net Debt 2022 - - -
P/E ratio 2022 -0,48x
Yield 2022 -
Capitalization 49,6 M 49,6 M -
Capi. / Sales 2022 0,11x
Capi. / Sales 2023 0,10x
Nbr of Employees 318
Free-Float 58,6%
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 0,26 $
Average target price 9,97 $
Spread / Average Target 3 736%
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Managers and Directors
Stephen Jay Ehrlich Chief Executive Officer & Director
Ashwin Prithipaul Chief Financial Officer
Philip Edward Eytan Non-Executive Chairman
Daniel Christopher Costantino Chief Information Security Officer
Rakesh Gidwani Chief Technology Officer
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