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Voyager Digital (VYGVF) – Caught Up in the Three Arrows Vortex; Lowering to Market Perform

Tech
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Thursday, June 23, 2022

Voyager Digital (VYGVF)
Caught Up in the Three Arrows Vortex; Lowering to Market Perform

Voyager Digital Ltd.’s (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2) US subsidiary, Voyager Digital, LLC, is a fast-growing cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost-efficiency to the marketplace. Voyager offers a secure way to trade over 100 different crypto assets using its easy-to-use mobile application. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visit https://www.investvoyager.com.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Three Arrows Capital. Voyager is caught up in the Three Arrows collapse. According to press reports, Three Arrows Capital is facing a liquidity crisis due to the collapse of the crypto market. It’s believed that the firm could be facing bankruptcy as it struggles to pay off its debts. Yesterday, Voyager announced it may issue a notice of default to Three Arrows Capital for failure to repay its loan, which consists of 15,250 Bitcoin, roughly $305 million at the current price, and $350 million of USDC.

Voyager Response. Voyager has requested payment in full by June 27th. Voyager intends to pursue recovery from 3AC and is in discussions with the Company’s advisors regarding the legal remedies available. The Company is unable to assess at this point the amount it will be able to recover from 3AC….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

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