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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
