Voyager Succeeds in Auction and Announces Agreement for FTX to Acquire Assets | Catch My Job


new york, 26 Sep 2022 /CNW/ – Voyager Digital Company Limited Voyager Digital LLC (“Voyager” or “Company”) (OTCPink: VYGVQ) (FRA: UCD2) announced today that after several rounds of bidding process in a highly competitive bidding process, Voyager Digital LLC has been operating. Choose West Realm Shires Inc. (“FTX US”) as the highest and best bid for their assets. The Official Committee of Unsecured Creditors (“UCC”) actively participates in the auction and supports the winning bid of FTX US.

FTX US bids are approximate. $1.422 billionThis includes (i) the fair market value of all Voyager cryptocurrencies as of a future date. which the current market price is expected to be $1.311 billionplus (ii) additional considerations that are estimated to be approximate giving. 111 million dollars of added value The company’s claim against Three Arrows Capital remains a bankruptcy asset. This will distribute the available recalls for such claims to the real estate creditors.

FTX US bidding maximizes value and shortens the remainder of the company’s restructuring by providing clear guidance for debtors to achieve Chapter 11 plans and return value to customers and other creditors. FTX US’s secure and market-leading trading platform will allow clients to trade and store cryptocurrencies after the company’s Chapter 11 lawsuits are settled.

The asset purchase agreement between Voyager Digital LLC and FTX US will be presented for approval in the US Bankruptcy Court for the Southern District of new york on Wednesday, October 19, 2022 and the deadline for objecting to the transaction is October 12, 2022 at 16:00 Eastern time, the sale to FTX US will be completed in accordance with the Chapter 11 plan, subject to the vote of creditors and subject to other customary closing conditions. FTX US and the company will proceed to close the transaction immediately upon receipt. Chapter 11 plan approved by the bankruptcy court

The auction is based on the Voyager spacecraft. July 5, 2022 Enter a voluntary restructuring process that aims to return maximum value to customers. Since the company’s Chapter 11 filing, in implementing this objective, Voyager has been involved in a two-way process. It is based on both possible sales and standalone reorganization. Following the process outlined in the court indictment, Voyager received several bids to consider options for sales and reorganization. Organize an auction and determine based on the outcome of the auction that a sales transaction with FTX is the best option for Voyager’s stakeholders.

More information about the client’s timeline and access to crypto will be shared as they become available. A copy of the bidding process bidding process order Request for bidding process and other requests filed in this case It can be obtained for free by visiting the Travel Case website.

The result of the auction does not change the Bar Date and does not require the customer to decide whether to make a claim or not. More information can be found. here. Customers can file a claim on the Voyager case website. hereThe deadline for filing an application is October 3, 2022at 5:00 p.m. ET.

Surveyors were advised by Kirkland & Ellis LLP, Moelis & Company LLC and Berkeley Research Group. FTX US was advised by Sullivan & Cromwell LLP. UCC was advised by McDermott Will & Emery LLP and FTI Consultants

Forward-Looking Statements

Some information in this press release including but not limited to Messages about future growth and performance of the business. momentum in business Using digital assets in the future and the Company’s projected results may be forward-looking information. implied statements) which can be identified by using words such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue,” or ” believe” (or negative) or similar form. Forward-looking statements involve known and unknown risks. uncertainty and other factors that could cause Voyager’s actual results, performance or achievements to differ materially from the results. performance or future achievements expressed or implied by forward-looking statements. In addition, we operate in a highly competitive and rapidly changing environment. new risks occur from time to time It is impossible for our management to anticipate all risks. And we cannot assess the impact of all factors on our business. or the extent to which any factor or a combination of factors may cause actual results to differ materially from future factors. Forward-looking statements that we may make at risk uncertainty and these assumptions Future events and trends discussed in this press release may not occur. and actual results may differ materially and negatively from those projected or implied in the forward-looking statements. Forward-looking statements involve the risk that the global economy, industry, or the Company’s businesses and investments will not perform as anticipated. Estimated income or expenses may not meet or may be significantly less or greater than projected. The lending company can repay the loan in full and timely. Trading momentum does not continue or the demand for trading solutions is declining. Acquisition of customers does not increase as planned. The product and international expansion did not go as planned. The risk of complying with the laws and regulations applicable to or currently applicable to the business. and other risks contained in the company’s public filings. This includes management’s description and analysis and the Annual Information Form (AIF). Factors that could cause actual results of the Company and its business to differ materially from those described in such forward-looking statements. including but not limited to Decline in the digital asset market or the general economic situation Changes to laws or regulatory guidelines Failures or delays in the adoption of digital assets and the blockchain ecosystem by institutions Cryptocurrency Volatility Changes Changes in demand for Bitcoin and Ethereum, changes in the status or classification of cryptocurrency assets. cyber security breach Delays or failures in the development of commercial infrastructure Failure to expand assets under management Unwanted developments with respect to the issuer or party to the transaction or not obtaining the necessary regulatory approvals. Readers, please note that the assets on the platform and trading volume fluctuate and may increase or decrease from time to time. and such fluctuations are beyond the control of the Company. Forward-looking statements Past and current performance and trends are not a guarantee of future performance, therefore you should not improperly rely on forward-looking statements. Current or past performance or current or past trends Information that identifies the assumptions, risks and uncertainties associated with the Company is contained in filings with the Canadian Securities Regulatory Authority at www.sedar.comForward-looking statements in this press release are effective only as of the date of this press release or the date stated in the relevant forward-looking statements. and the Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances. Later that day or to reflect on unexpected events. except as required by law The Company is under no obligation to provide operational updates. except as required by law If the Company updates at least one of the forward-looking statements. No further updates should be assumed with respect to forward-looking statements or otherwise. unless required by law Readers are cautioned that past performance is not indicative of future performance. and current business trends And the demand for digital assets may not continue. And readers should not rely too much on past performance and current trends.

SOURCE: Voyager Digital Ltd.

For more information: Voyager Digital, Ltd. Voyager Public Relations Team [email protected]


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