Voyager Electronic Ltd. (OTC: VYGVF) announced Thursday that it seeks to increase $25 million in gross proceeds from a non-public placement present.
What Took place: The crypto-asset broker has entered into an settlement with agent Stifel GMP for the $25 million popular stock giving. The supplying is envisioned to shut on or about January 22, 2021, topic to regulatory circumstances and the Canadian trade approvals.
The brokers will acquire 7% money fee and compensation warrants entitling them to order 7% of the shares from the present featuring.
Why It Matters: Voyager intends to use the proceeds for standard company applications and organization growth.
With the immediate increase in crypto investing, Voyager has seen its small business improve multifold. It clocked $200 million in belongings beneath management (AUM) in December, doubling from $100 million in November and 40x in the trailing 12 months.
“AUM is a critical metric for the overall performance of our business enterprise, and we are psyched that end users have placed their have confidence in in our platform, which allows us to generate bigger returns and therefore reinvest to deliver new products and solutions to market more quickly, like our desktop system, debit and credit rating playing cards, and margin offerings,” co-founder and CEO Steve Ehrlich claimed at the time.
Voyager had elevated C$5.7 million from a non-public giving in November.
Selling price Motion: VYGVF shares closed 9.85% bigger at $6.58 on Thursday.
Related Information: Polkadot Outperforms Bitcoin, Rival Ethereum To Be a part of The Prime 5 Cryptos: What You Need To Know
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