Following its bankruptcy filing, digital asset trading platform Voyager Digital (OTCPink: VYGVQ), has delisted its shares from the Toronto Stock Exchange (TSX). Voyager last traded at CDN $0.335 a share down from over $26/share in the past year.
Voyager went bankrupt following a large loan default. Three Arrows Capital (3AC), a crypto hedge fund in liquidation, had borrowed approximately $650 million (f 15,250 Bitcoins and 350 million USDC) from Voyager but failed to make payments on the loan leading to a rather precarious and eventual bad situation.
Voyager also traded on OTC Best Market or OTCQX but it no longer qualifies for this listing level and now trades on the pink sheets. Today, Voyager traded between $0.13 and $0.20 a share.
Voyager noted that the resumption of trading on the OTC Pink Sheets and the voluntary delisting of the Company’s common shares on the TSX have no impact on the Company’s continued business operations.
Voyager is attempting to recover the loan made to 3AC but it is not yet clear how much the loan is recoverable.
Voyager has filed a plan for its re-organization with the courts.
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