The hefty price tag is composed of the estimated market value of Voyager’s assets plus $111 million in incremental value.
“Voyager will entertain any serious proposal made pursuant to the Bidding Procedures described in its Motion. It seems clear, however, that AlamedaFTX’s Proposal, which was made in contravention of the proposed Bidding Procedures, was designed to generate publicity for itself rather than value for Voyager’s customers.”that lasted over two weeks, FTX will be buying up all company assets through its US subsidiary West Realm Shires Inc.
However, Voyager’s claims against Three Arrows Capital will remain with the bankruptcy estate, which will distribute recovered assets – if any – to the firm’s various creditors. Any objections to the current purchasing plan will have to be submitted to US Courts by the 12th of October. Assuming no objections will be put forward, the deal will be presented for approval by the court on the 19th of October.
News of the buyout also prompted a small pump in the value of Voyager Token – pushing the token’s price to $0.75 before falling back to around $0.7 at the time this article was written,If the courts approve the takeover, FTX reportedly intends to get Voyager up and running as soon as possible – and will undoubtedly offer more details on the methods shortly.
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