2 years ago
Michael Bellusci is CoinDesk's crypto payments reporter.
Crypto trading level Voyager Digital (VOYG) raised $60 cardinal successful a private placement offering astatine $2.34 a stock led by Alameda Research.
The placement besides included information from Galaxy Digital, Blockdaemon, and Digital Currency Group, the genitor institution of CoinDesk. Investment slope BTIG is the sole cause and bookrunner.
Voyager said the institution volition person liquidity of much than $225 million, astir $175 cardinal successful currency and different $50 cardinal successful crypto, erstwhile the offering is afloat completed. It expects to usage the proceeds for wide firm purposes.
The institution besides reported gross of $102.7 million successful the fiscal 3rd 4th ended March 31, up 70% from the year-earlier period. Still, it sank to an operating nonaccomplishment of $43.0 cardinal compared with income of $29.8 cardinal the twelvemonth before.
"With the caller changes to our rewards exemplary and actively addressing our outgo operation to guarantee an businesslike usage of capital, we are moving toward a extremity of returning to affirmative operating income, aft adding backmost stock-based compensation, successful aboriginal calendar 2023," the institution said successful a statement.
Total assets connected its level fell to $5.8 cardinal from $6.0 cardinal astatine Dec. 31, 2021.
The backstage placement "points to a challenging operating environment," Chris Allen, a probe expert with Compass Point, told clients successful a enactment Monday. Allen maintained a bargain standing and a C$14 ($10.83) terms people connected shares.
Voyager's Toronto-listed shares, which closed astatine C$4 connected Friday, fell arsenic overmuch arsenic 13% astatine Monday's open.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat NowDISCLOSURE
Please enactment that our
cookies, and
do not merchantability my idiosyncratic information
has been updated.
The person successful quality and accusation connected cryptocurrency, integer assets and the aboriginal of money, CoinDesk is simply a media outlet that strives for the highest journalistic standards and abides by a
strict acceptable of editorial policies. CoinDesk is an autarkic operating subsidiary of
Digital Currency Group, which invests in
and blockchain
startups. As portion of their compensation, definite CoinDesk employees, including editorial employees, whitethorn person vulnerability to DCG equity successful the signifier of
stock appreciation rights, which vest implicit a multi-year period. CoinDesk journalists are not allowed to acquisition banal outright successful DCG.
Michael Bellusci is CoinDesk's crypto payments reporter.
Michael Bellusci is CoinDesk's crypto payments reporter.
Sign up for The Node, our regular newsletter bringing you the biggest crypto quality and ideas.
By signing up, you volition person emails astir CoinDesk merchandise updates, events and selling and you hold to our terms of services and privacy policy.
English (US) 