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Cryptocurrency broker Voyager Digital raised about $ 60 million during a private placement of shares. The funding round was led by Sam Bankman-Fried’s Alameda Research.
Participants include Barry Silbert’s Digital Currency Group, Mike Novogratz’s Galaxy Digital and Blockdaemon. The only agent and bookrunner was the financial company BTIG.
Voyager Digital uses the funding for corporate-wide purposes.
The completion of the placement in full will allow the firm to bring the amount of liquidity at its disposal to more than $ 225 million, of which about $ 50 million will be funds in cryptocurrencies.
“The additional capital will support the implementation of our strategic plan. Deepening relationships with key industry leaders will help us achieve our goals of expanding existing programs, as well as enter the Web 3.0 and NFT space,” said Stephen Ehrlich, founder and CEO of the company.
Voyager conducted the placement at a price of 3 CAD ($ 2.34) for a simple share.
On Monday, May 16, the firm reported financial results for the first quarter. Revenue was $102.7 million, an increase of 70% year-on-year. The company suffered an operating loss of $43 million.
From Friday’s close price of about $3.1, Voyager shares on Monday fell to $2.25. After recovering at the time of writing, the companies are trading near the $2.32 mark.
Data: MarketWatch.
Voyager reported that compared to the previous quarter, the number of users increased by 9% (3.5 million), funded accounts – by 11% (1.2 million). However, the volume of assets on the platform decreased from $ 6 billion to $ 5.8 billion.
In October 2021, Alameda Research invested $75 million in Voyager.
Recall that in January 2022 it became known that the Canadian company was among the providers of crypto-landing services, in respect of which the US Securities and Exchange Commission began an investigation.
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