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Alameda Research Ventures handed over 4,500,000 shares to Voyager for cancellation on June 22, just eight days before Voyager announced that it would suspend trading, deposits and withdrawals on the platform.
In addition, Alameda signed a contract with Voyager around June 17 to acquire an additional 14,957,265. As of June 21, Alameda held “22,681,260 Voyager common stock, equivalent to approximately 11.56% of the outstanding common stock and variable voting stock.” The increase in shares has made Alameda an official insider as defined in Section 1 (1) of. Ontario Securities Act..
On June 22, the terms of the $ 200 million and 15,000 BTC loan from Alameda to Voyager were confirmed and officially released. press release.. Ownership of 11.56% of the shares was also repeated in the release. An important change report was also submitted explaining the terms of the loan, including a clause limiting drawdowns to $ 75 million per month.
No more than US $ 75 million will be deducted during the 30-day rolling period. The company’s corporate bonds should be limited to approximately 25% of the client’s assets on the platform minus US $ 500 million. Funding must be secured within 12 months. “
On June 23, Voyager issued a press release and an early warning report, proclaiming that Alameda would dispose of 4.5 million shares in Voyager. This share accounted for approximately 2% of Voyager’s “issued and issued” shares. The transfer of shares reduced Alameda’s total position to 9.49% of Voyager, making Alameda “no longer a Voyager reporting insider.”
A week later, on July 1, Voyager issued a press release stating that it would “unfortunately” suspend all activities on the platform, including trading, deposits and withdrawals. The decline in shares has given Alameda the freedom to sell the remaining 18.1 million shares without reporting to Sedar.
