Core Viewpoint - Galaxy Digital Inc. is focusing on its Nasdaq listing by voluntarily delisting from the Toronto Stock Exchange, which has led to a significant rebound in its stock price. Group 1: Delisting Announcement - Galaxy Digital's board of directors has decided to delist from the TSX effective March 19, 2026, to concentrate on its Nasdaq listing, as the majority of its average daily trading volume occurs on Nasdaq and other US markets [2] - The delisting initiative aims to reduce additional expenses and administrative requirements associated with maintaining a dual listing [2] Group 2: Shareholder Approval and Buyback Program - Galaxy Digital is not required to seek shareholder approval for the delisting since an alternative market is available for trading its Class A common shares [3] - The ongoing share buyback program for Canadian shares will cease on the delisting date, while repurchase transactions for Nasdaq shares will continue, not exceeding 5 percent of the outstanding Class A common stock at any time within a 12-month period [4] Group 3: Market Reaction - Following the announcement and a surge in Bitcoin prices by as much as 8 percent during the trading session, Galaxy Digital's stock rebounded by 17.70 percent, closing at $24.34 [1][4]
Galaxy Digital (GLXY) Climbs 17.7% on Canada Delisting, Bitcoin Surge