Galaxy Digital in Roughly $100 Million Stock Offering
By Robb M. Stewart
Galaxy Digital Holdings is seeking to raise roughly $100 million via an equity raising.
The digital asset and blockchain company, which has earmarked the proceeds of the bought deal public offering for working capital and general corporate purposes, said Tuesday it entered into an agreement with Canaccord Genuity that will see the underwriter buy 9.75 million shares at 14 Canadian dollars ($10.31) each, for gross proceeds of C$136.5 million.
Certain shareholders, including Galaxy Group Investments, granted the underwriter an option to buy up to an additional 1.5 million shares that they hold at the same offering price during a 30-day period after the offering closes. That could see proceeds for these shareholders of up to roughly $15 million.
The offering is set to close on or about Friday, Galaxy said.
Late last month, the company recorded a swing to fourth-quarter net income of $301.5 million from a year-earlier loss of $288.8 million as fee revenue and lending and staking revenue each more than doubled.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
April 09, 2024 07:43 ET (11:43 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks