Voyager Digital to Acquire Crypto Payment Company Coinify in $84M Deal
Under the deal, Coinify investors will be issued 5.1 million Voyager shares and $15 million in cash.
Aug 2, 2021 at 1:44 p.m. UTCUpdated May 9, 2023 at 3:22 a.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/Q42LE2ZYQZBEVDGZJJMM6QTPB4.jpg)
Cryptocurrency broker Voyager Digital said it agreed to buy crypto payment company Coinify in a deal valued about $84 million in stock and cash.
- The acquisition will provide Canadian Securities Exchange (CSE)-listed Voyager with a route into the crypto payment industry thanks to the Coinify platform's presence in Europe, Asia and the Americas, the company said Monday.
- Under the deal, Coinify investors will be issued 5.1 million Voyager shares, worth about US$69 million, and US$15 million in cash. The shares closed Friday at C$16.9 (US$13.57).
- Voyager will retain the $5.5 million of cash on Coinify's balance sheet.
- Of the 5.1 million shares, just over 3.28 million will be subject to a lock-up period lasting either 12 months from the closing date or until Voyager is listed on Nasdaq, whichever is earlier, the company said.
- No further information was offered by Voyager on a Nasdaq listing. Reference to it was made in this announcement purely as it relates to the share lockup, a Voyager spokesperson told CoinDesk.
01:11
Breaking Down Bitcoin's Selling Pressure
28:01
Nansen CEO Reveals Top Crypto Projects to Watch
00:51
How Lower Interest Rate Could Impact the On-Chain Ecosystem
02:04
OpenSea Receives 'Wells Notice' From SEC; Telegram CEO Pavel Durov Indicted on 'Complicity'
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)