Voyager's blog post reads: "We believe the Plan, including the sale to FTX US, maximizes recoveries to Voyager’s creditors, we urge all customers and creditors to vote in favor of the Plan."
Voyager Digital urged its creditors to support FTX US’ sale agreement to purchase the bankrupt lender’s assets.
Earlier this week, the federal bankruptcy Court approved the asset purchase agreement between FTX and Voyager. This will allow Voyager’s clients to recover 72% of their frozen holdings.
Next, Voyager will require its clients to vote on this sale plan. Stretto, Voyager’s claims agent, will email voting instructions and other details of the sale to its user base.
Currently, the price of Voyager’s assets has not been evaluated. The purchase price of the bankrupt lender’s assets will be calculated on the basis of a 20-day historical average of its crypto holdings except $VGX.
Voyager’s blog post claims that if its users decide to transition to FTX US, they will be paid via a mixture of US Dollars, crypto, and USDC. Otherwise, they will receive their claims as cash from the Voyager bankruptcy estate.
It is worth noting that FTX does not support the VGX token. Instead, the exchange has offered $10M to purchase Voyager’s outstanding $VGX. The bankrupt lender notes that it will seek other alternatives. However, Voyager will comply with FTX’s offer if it is unable to find a better deal.
The deadline for creditors to submit their votes is November 29.
