Voyager Digital Ltd (VYGVQ)

[SmokeSignals]

Why is Voyager undergoing financial restructuring if it intends to continue operating?
Chapter 11 in the United States is a well-established legal process through which companies reorganize their financial obligations and emerge as stronger organizations while operating in the normal course.
The process provides an orderly path to maximize value for the company and its stakeholders, companies continue to fund ongoing operating obligations— including payroll and benefits, payments to vendors, and routine capital expenditures— through cash on hand or new financing.
Chapter 11 is very different from Chapter 7 and other types of reorganization where the focus is on liquidating assets and going out of business. Under a Chapter 11 filing — unlike a Chapter 7 filing – management remains in control of the business and the company largely maintains normal operations.
https://www.investvoyager.com/blog/voyager-restructuring-faqs/