Voyager Digital - CEO, Stephen Ehrlich.
CEO, Stephen Ehrlich.
Source: Voyager Digital.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Voyager Digital (VOYG) is announcing a new credit facility and potential loan default to a subsidiary
  • Subsidiary Voyager Digital Holdings has signed a definitive agreement with Alameda Ventures for a US$200M cash and USDC stablecoin revolver and a 15,000 BTC revolver
  • Subsidiary Voyager Digital LLC may issue a notice of default to Three Arrows Capital for failure to repay its loan consisting of 15,250 BTC and $350M USDC
  • Voyager Digital offers cryptocurrency trading and payment solutions
  • Voyager Digital (VOYG) is down by 61.88 per cent trading at $0.61 per share

Voyager Digital (VOYG) is announcing a new credit facility and potential loan default to a subsidiary.

Subsidiary Voyager Digital Holdings has entered into a definitive agreement with Alameda Ventures related to a previously disclosed credit facility to help meet customer liquidity needs during the current crypto market downturn.

Alameda will provide a US$200M cash and USDC stablecoin revolver and a 15,000 BTC revolver.

As of June 20, 2022, Voyager had approximately US$152M in cash and crypto assets on hand, as well as approximately US$20M in cash restricted for the purchase of USDC.

Alameda will release no more than US$75M over a rolling 30-day period. Voyager’s corporate debt must also be limited to 25 per cent of customer assets on the platform, less US$500M, and it must secure additional sources of funding within 12 months.

Alameda indirectly holds 11.56 per cent of Voyager’s outstanding common and variable voting shares.

Subsidiary Voyager Digital LLC may issue a notice of default to Three Arrows Capital (3AC) for failure to repay its loan. The loan consists of 15,250 BTC and $350M USDC. The company has requested a $25M USDC repayment by June 24, 2022, and payment in full by June 27, 2022. It intends to pursue legal remedies if deemed necessary.

Voyager Digital offers cryptocurrency trading and payment solutions.

Voyager Digital (VOYG) is down by 61.88 per cent trading at $0.61 per share as of 10:44 am EST.

More From The Market Herald

" HIVE Blockchain (TSXV:HIVE) is experiencing filing delays

HIVE Blockchain Technologies (HIVE) does not expect its audited financial statements and management discussion and analysis to be released as scheduled.
BIGG Digital Assets - CEO, Mark Binns.

" BIGG Digital Assets (CSE:BIGG) subsidiary Netcoins introduces new digital assets

BIGG Digital Assets (BIGG) subsidiary Netcoins has launched four new digital assets: ADA, SOL, DOT and GALA.
Cypherpunk - President and CEO, Jeff Gao.

" Cypherpunk Holdings (CSE:HODL) liquidates holdings in BTC and ETH

Cypherpunk Holdings (HODL) has provided updates on its cryptocurrency holdings and corporate strategy.
DMG Blockchain Solutions - Sheldon Bennett, CEO

" DMG (TSXV:DMGI) launches carbon neutral Terra Pool

DMG Blockchain Solutions (DMGI) has launched the Terra Pool, a renewable energy Bitcoin mining pool partnership with Argo Blockchain PLC.