{ "docId": "019de514-e6a9-701b-a004-3c212e238123", "docSlug": "8d6c045b1e00b0dc9c16cbe6013368ef", "documentTitle": "Voyager Digital | Investor Presentation Deck | 8 slides", "authorId": "voyager-digital", "authorName": "Voyager Digital", "documentKindSlug": "regulatory-filing", "documentKindLabel": "Regulatory filing", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2023-01-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 7, "pageCount": 8, "prevPage": 6, "nextPage": 8, "slideType": "regulatory-filing", "function": "expose_contradiction", "density": "dense", "nDataPoints": 0, "notes": null, "elementsJson": null, "metadataConfidence": 0.9, "imagePath": null, "slideHref": "/slides/019de514-e6a9-701b-a004-3c212e238123/7", "deckHref": "/decks/019de514-e6a9-701b-a004-3c212e238123", "deckJsonHref": "/decks/019de514-e6a9-701b-a004-3c212e238123.json", "deckAnchorHref": "/decks/019de514-e6a9-701b-a004-3c212e238123#slide-7", "components": [ { "bbox": { "h": 0.36, "w": 0.87, "x": 0.08, "y": 0.53 }, "kind": "diagram", "text": "June 22, 2022: TopCo and HoldCo enter into Alameda Loan Facility based on false facts and representations, Loan Agreement requires the Debtors to cease lending with any and all other counterparties.\nJuly 28, 2022: AlamedaFTX objects to the Debtors' bidding procedures, seeking that the Debtors abandon sale process and pursue the lowball AlamedaFTX transaction proposal.\nNovember 10, 2022: Debtors forced to recommence marketing process due to AlamedaFTX collapse.\nDecember 13, 2022: SBF indicted on wire fraud, money laundering, securities fraud, commodities fraud, and conspiracy to violate campaign finance laws.\nDecember 21, 2022: SEC charges AlamedaFTX's key executives, Caroline Ellison and Gary Wang with defrauding creditors due to market manipulation and fraud.\nJuly 22, 2022: AlamedaFTX issues misleading press release disparaging the Debtors while publicizing lowball offer for customer accounts.\nSeptember 27, 2022: Debtors and FTX enter into APA based on FTX's misrepresentations and deceit.\nNovember 11, 2022: FTX and affiliates commence chapter 11 filing due to insolvency following discovery of historic fraud.\nDecember 21, 2022: AlamedaFTX's key executives, Caroline Ellison and Gary Wang plead guilty to criminal charges.", "attrs": {}, "subkind": "timeline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c81737d7-cffb-4368-b72c-ebaf28f8e716", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.11, "w": 0.901, "x": 0.049, "y": 0.137 }, "kind": "list", "text": "AlamedaFTX also contends that it holds a preference claim against the Debtors that pursuant to section 503(b) of the Bankruptcy Code is afforded administrative status in connection with repayment in October 2022 of outstanding loans to the Debtors – loans that the Debtors originally agreed to lend based on AlamedaFTX's false facts and representations [see Order (I) Authorizing the Debtors to Return Collateral and (II) Granting Related Relief[Docket No. 470]]", "attrs": {}, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "020d8b25-d9fc-4652-be05-cd4e9e85837f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.901, "x": 0.049, "y": 0.458 }, "kind": "list", "text": "AlamedaFTX's baseless assertions further demonstrate its continued attempts to inappropriately delay the Debtors' restructuring efforts and harm creditors", "attrs": {}, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1036b3f6-779e-4b8b-bc2e-7ab831c2be57", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.879, "x": 0.07, "y": 0.369 }, "kind": "list", "text": "Even if Alameda, FTX or its affiliates did successfully initiate such preference action, the Debtors are armed with numerous viable defenses and counterclaims, including the right to setoff pursuant to the applicable documentation", "attrs": {}, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a08ad1ef-c39d-485e-bde0-110bfbb7b386", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.76, "x": 0.049, "y": 0.302 }, "kind": "list", "text": "To date, AlamedaFTX has not filed any administrative claim nor has it initiated any preference action", "attrs": {}, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ea7c6f0c-f45e-4354-b635-4b8d06625247", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.54, "x": 0.049, "y": 0.047 }, "kind": "title", "text": "AlamedaFTX's Objections (cont'd)", "attrs": {}, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bd75a2d8-a24d-4f2b-9762-d15d1ca36055", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 7, "from": 3, "beatId": "3c9a366c-db63-42dc-977c-51bd0e30f516", "arcName": "The Consultant's Gambit", "arcSlug": "consultants-gambit", "beatName": "Problem & Complication", "beatSlug": "consultants-gambit-problem-complication", "evidence": "Slides 3-7 discuss objections and concerns.", "position": 1, "confidence": 0.8, "parentBeatName": "Complication", "parentBeatSlug": "complication" } ], "loops": [ { "to": 7, "from": 3, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "b9d9905d-f76c-48d0-a899-4cf70b4f1c45", "evidence": "The objections and concerns discussed on slides 3-7 imply potential negative consequences.", "position": 1, "objective": "Highlight the consequences of not approving the transaction", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.6, "description": "Quantify what happens if the audience does nothing" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }