Galaxy Digital falls after stock offering launch

Galaxy Digital

28/05/2025 10:36

** Shares of digital assets and data center infrastructure firm Galaxy Digital GLXY.O fall 8.9% to $19.8 premarket

** The company late Tuesday announced stock offering of 29 million shares, wherein it is offering 24.15 million shares, while some existing stockholders are selling the remaining shares

** Goldman Sachs, Jefferies and Morgan Stanley are the active joint book-running managers for the offering

** Stock closed down 5.3% at $21.74 on Tuesday

** GLXY plans to use the proceeds to finance expansion of its AI and high-performance computing infrastructure at its Helios data center campus and for general corporate purposes

** Co had 130.9 million shares outstanding as of May 23, per SEC filing

** GLXY, which had been listed on the Toronto Stock Exchange since 2020, made its Nasdaq debut earlier this month

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))