"Galaxy Digital Completes $1.3 Billion Exchangeable Senior Notes Offering to Support Growth and Expansion"

"Davis Polk advised Galaxy Digital Holdings LP on its $1.3 billion Rule 144A offering of 0.50% exchangeable senior notes due 2031, which are convertible into shares of Galaxy Digital Inc. Galaxy plans to use the proceeds to support business growth and general corporate purposes, including potential repayment of existing notes. Galaxy, a New York-based leader in digital assets and AI-driven finance solutions, manages approximately $9 billion in assets."

Davis Polk advised Galaxy Digital Holdings LP (GDH LP) in connection with its Rule 144A offering of $1.3 billion aggregate principal amount of 0.50% exchangeable senior notes due 2031. The offering included $150 million aggregate principal amount of notes issued pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes. The transaction involved the issuance of notes that are exchangeable for shares of Class A common stock of Galaxy Digital Inc., the Nasdaq-listed parent company of GDH LP. Galaxy intends to use the net proceeds from the offering to support growth across its core operating businesses and for general corporate purposes, which may include the repayment of GDH LP’s existing exchangeable senior notes due 2026. The Davis Polk team included capital markets partners Daniel P. Gibbons and Joseph A. Hall, counsel Joze Vranicar, and associates Sakiko Nishida and Megan P. Phansalkar; equity derivatives partner Randall Derek Walters and counsel Gregory E. Marchesini; tax partner Patrick E. Sigmon; 1940 Act counsel Sarah E. Kim; and ERISA counsel Chaoyuan (Charles) Shi. All members of the Davis Polk team are based in the New York office.

"Galaxy Digital Completes $1.3 Billion Exchangeable Senior Notes Offering to Support Growth and Expansion"

Read the full story

Cookie Preferences

Strictly Necessary

Analytics & Statistics

Marketing & Ads