brokerage — co-founded by the ex-CTO of Uber — has gone public on TSX Venture Exchange. The was announced in an official from Voyager on Feb. 11.
Shares are traded under ticker symbol VYGR.V, as a company outlines.
The listing comes following the completion of a so-called reverse takeover — also known as a reverse initial public offering or backdoor listing.
Last week, Voyager had that its merger with former shell company UC Resources Ltd. was nearing completion. The moved allows the crypto brokerage to qualify as a TSX Venture Tier 2 Company.
Generally, a reverse takeover occurs when a privately held company merges with a publicly traded company — thereby bypassing at least some of the involved in the process of going public, including regulatory issues and due diligence. Upon completion of the deal, the buyer gains automatic inclusion on the relevant stock exchange.
As the firm’s blog post notes, now that Voyager has gone public, it will be legally bound to disclose quarterly and annual reports. The company will also be required to report any mergers, acquisitions, insider , securities transactions by firm employees and ownership changes.
As previously , among its co-founders, Voyager counts E*Trade veteran Steve Ehrlich and Oscar Salazar — the former CTO at Uber and one of the company’s original employees.
The firm is working toward launching a zero-fee mobile crypto app, currently in stage development, that will allow investors to to trade and manage their digital assets across multiple crypto exchanges.
Last October, it reportedly its institutional service, and imminently plans to launch retail services for residents, followed by Canadians in Q3 2019.
Voyager is poised to enter the North American crypto sector amid steep competition from players such as crypto exchange and service provider , zero-fee stock and crypto brokerage app and San Francisco-headquartered — by Goldman Sachs-backed payments platform Circle last year.
Other crypto industry firms to have pursued a reverse takeover include ’s crypto-focused merchant bank Galaxy Digital, which for the route in order to secure a listing on the very same TSX Venture Exchange.
Published at Tue, 12 Feb 2019 11:10:21 +0000
