Crypto lending platform Voyager Digital announced that it has selected West Realm Shires Inc. ("FTX US") as the highest and best bidder for its assets. The official committee of unsecured creditors notarized and supported the winning bid by FTX US.
The offer for FTX US is approximately $1.422 billion, including the fair market value of all Voyager cryptocurrencies at a future date, estimated at $1.311 billion at current market prices, plus additional consideration estimated to provide approximately $111 million in incremental value. The Company's claims on Three Arrows Capital remain in the estate, which will distribute any available recovery of such claims to creditors of the estate.
The asset purchase agreement between Voyager Digital and FTX US will be submitted to the U.S. Bankruptcy Court for the Southern District of New York for approval on October 19, 2022, and the deadline for the court's final objection to the transaction is in the early hours of October 13, 2022 Beijing time 4 o'clock.
