CEO Stephen Ehrlich Sells Top Of Voyager Stock And Raises $31 Million In 2021
Voyager CEO Stephen Ehrlich made $31 million from selling the company’s stock when it was trading at a peak in 2021.
As reported by CNBC, Ehrlich sold 1.9 million shares between February 9, 2021, and March 31, 2021, in 11 transactions, raising $31 million. Determining the total amount Ehrlich made was a “challenge” because of the “complex and unclear structure” of the company.
Three of Ehrlich’s most significant deals, totaling 1.4 million shares and valued at $19 million, were conducted in February 2021 and connected to a $50 million secondary offering by Stifel Nicolaus.
Voyager shares surged to $26 in March 2021, coinciding with the rally of leading digital assets like Bitcoin (BTC) and Ethereum (ETH). It subsequently traded at an all-time high (ATH) of $29.86, a week after Ehrlich’s last sale on April 5, 2021. However, the stock lost 41% of its value in the following three weeks.
Voyager adopted an automated securities disposal plan (ASDP) in December 2021. The policy is intended to impose a trading scheme that prevents insiders and executives from gaining an undue advantage when trading their shares.
However, Ehrlich rescinded the policy less than a month later because he felt “it was in the best interests of investors.” Before the delisting of the ASDP, Voyager operators had not yet completed any transactions under this policy.
Voyager is one of the crypto companies that has been greatly affected by the recent crypto market crash. The crypto lending service provider filed for bankruptcy on July 6 after it was revealed that Three Arrows Capital (3AC) had defaulted on its loan.
Reports also reveal that Voyager products are not insured by the Federal Deposit Insurance Corporation (FDIC). The federal agency issued a statement warning the company against making such “false and misleading” claims. Several US states have also opened investigations into the company’s activities.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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CEO Stephen Ehrlich Sells Top Of Voyager Stock And Raises $31 Million In 2021
Voyager CEO Stephen Ehrlich made $31 million from selling the company’s stock when it was trading at a peak in 2021.
As reported by CNBC, Ehrlich sold 1.9 million shares between February 9, 2021, and March 31, 2021, in 11 transactions, raising $31 million. Determining the total amount Ehrlich made was a “challenge” because of the “complex and unclear structure” of the company.
Three of Ehrlich’s most significant deals, totaling 1.4 million shares and valued at $19 million, were conducted in February 2021 and connected to a $50 million secondary offering by Stifel Nicolaus.
Voyager shares surged to $26 in March 2021, coinciding with the rally of leading digital assets like Bitcoin (BTC) and Ethereum (ETH). It subsequently traded at an all-time high (ATH) of $29.86, a week after Ehrlich’s last sale on April 5, 2021. However, the stock lost 41% of its value in the following three weeks.
Voyager adopted an automated securities disposal plan (ASDP) in December 2021. The policy is intended to impose a trading scheme that prevents insiders and executives from gaining an undue advantage when trading their shares.
However, Ehrlich rescinded the policy less than a month later because he felt “it was in the best interests of investors.” Before the delisting of the ASDP, Voyager operators had not yet completed any transactions under this policy.
Voyager is one of the crypto companies that has been greatly affected by the recent crypto market crash. The crypto lending service provider filed for bankruptcy on July 6 after it was revealed that Three Arrows Capital (3AC) had defaulted on its loan.
Reports also reveal that Voyager products are not insured by the Federal Deposit Insurance Corporation (FDIC). The federal agency issued a statement warning the company against making such “false and misleading” claims. Several US states have also opened investigations into the company’s activities.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
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