Core Viewpoint - Galaxy Digital is increasing its offering of exchangeable notes to $1.15 billion from an initially proposed $1 billion, indicating strong investor interest and confidence in the company's growth strategy [1] Financial Details - The estimated net proceeds from the notes are $1.127 billion, or $1.274 billion if the full $150 million greenshoe option is exercised [2] - The notes carry an annual interest rate of 0.50% and will mature on May 1, 2031, with an initial exchange rate of 17.9352 shares per $1,000 principal amount, translating to an exchange price of approximately $55.76, which is a 37.5% premium over the stock's closing price on October 27 [2] Use of Proceeds - Proceeds from the notes will be utilized to support growth across Galaxy's core businesses and may also be used to repay its 2026 exchangeable notes [3] - The notes cannot be redeemed before November 6, 2028, but will become redeemable if Galaxy's share price trades 130% above the exchange price for a sustained period [3] Market Reaction - Following the announcement, shares of Galaxy Digital fell by 7.6% in New York, although they remain up 110% year to date, currently trading around $37.46 [4]