Wed Nov 16 20:26:28 2022
(*6952cd93*):: New Voyager customer letter just dropped
Dear [redacted],
Last week, we reopened the bidding process after FTX US, which won the auction for Voyager’s assets, filed for bankruptcy and agreed to let us solicit other offers. In coordination with the Voyager Official Committee of Unsecured Creditors (UCC), we are exploring strategic options, which include active discussions with several alternative bidders.
In light of recent events and reports regarding FTX US, the customer vote will be cancelled and the proposed sale will not move forward. You will not need to take any action, regardless of whether or not you have already voted.
Like you, we were disappointed to see the events of last week unfold. Nevertheless, we remain confident in the continued value of Voyager and are accordingly moving forward with all due care and deliberate speed. Our core objective in this process remains unchanged: maximizing the value returned to you, our customers, and other creditors.
As we move forward, we want to remind you that Voyager did not transfer any assets to FTX US in connection with the previously proposed transaction. Voyager also has no loans outstanding with any borrower. Our exposure to FTX Group is approximately $3 million, substantially composed of locked LUNA2 and locked SRM. We could not withdraw these assets because they remain locked and subject to vesting schedules.
We will keep you updated on our reorganization efforts, including notifying you of any decisions you may need to make.
Our restructuring information line remains available at +1 (855) 473-8665 (toll-free in the U.S.) or +1 (949) 271 6507 (for parties outside the U.S.) as does our case website at https://cases.stretto.com/Voyager.
Sincerely,
The Voyager Team
*** Voyager Digital and Voyager Official Committee of Unsecured Creditors Provide Update on Reorganization Plan
*** /PRNewswire/ – Voyager Digital Ltd. (“Voyager” or the “Company”) (OTC Pink: VYGVQ) (FRA: UCD2) and the Voyager Official Committee of Unsecured Creditors (UCC),…
*** prnewswire.com
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