Galaxy Digital falls after planned $1 bln exchangeable bonds sale announced

Galaxy Digital

27/10/2025 20:28

** Shares of digital assets and data center infrastructure firm Galaxy Digital GLXY.O down 8.3% at $37.20 in extended trading as it looks to raise capital

** New York City-based GLXY announces private offering of $1 bln exchangeable notes due May 31, 2031

** Co plans to use net offering proceeds to support growth, and for general corporate purposes, including repayment of its existing exchangeable senior notes due 2026

** With ~389.85 mln shares outstanding, GLXY has about $15.8 bln market cap, per LSEG data

** Stock closed up 1.8% at $40.55 on Mon, up nearly 40% over the past three months

** GLXY, founded by Mike Novogratz, has been listed on TSX since 2020 and made its Nasdaq debut in May

** All 11 analysts covering GLXY are bullish; median PT of $61.69 up from $49.09 a month ago - LSEG

 (Lance Tupper is a Reuters market analyst. The views expressed are his own)

 ((lance.tupper@tr.com 1-646-279-6380))