Voyager Digital To Raise US$60 Million At Large Discount To Market

Voyager Digital (TSX: VOYG) is evidently looking for funding. The company this morning indicated that it will be conducting a private placement to raise gross proceeds of US$60.0 million, with the offering to be lead by major investor Alameda Research.

The financing will see the company sell shares at a price of C$3.00 per share, or US$2.34. No warrant is being offered in connection with the financing. The pricing represents a 25% discount to the closing price of the equity on Friday.

The company has reportedly already received the subscription agreements for the offering, with the offering lead by Alameda Research, a large crypto trading firm. Other participants meanwhile are said to include Galaxy Digital (TSX: GLXY), Digital Currency Group, and Blockdaemon.

Proceeds from the financing are said to be used for general corporate purposes. A prospectus supplement has yet to be filed by the company with further details on the use of proceeds. Liquidity however is said to consist of US$175 million in cash and US$50 million in crypto assets, assuming the full completion of the offering.

A final closing date for the offering was not provided.

Voyager Digital last traded at $4.00 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply