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Galaxy Digital Slips 7% on $1.15B Exchangeable Debt Raise
Yahoo Finance· 2025-10-28 14:00
Mike Novogratz's Galaxy Digital (GLXY) is selling $1.15 billion in exchangeable notes in a private deal, upsizing from last night's originally offered $1 billion. Estimated net proceeds of $1.127 billion (or $1.274 billion if the full $150 million greenshoe option is exercised), said the company. The notes, carrying an annual interest rate of 0.50% and maturing May 1, 2031, are exchangeable at an initial rate of 17.9352 shares per $1,000 principal amount—equivalent to an exchange price of about $55.76, a ...