Galaxy Digital prices $1.15 billion exchangeable senior notes offering

Galaxy Digital (NASDAQ:GLXY) subsidiary Galaxy Digital Holdings priced the offering of $1.15 billion aggregate principal amount of its 0.50% exchangeable senior notes due 2031 in a private offering.

The offering was upsized from the previously announced offering size of $1.0 billion. The issuer also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $150.0 million.

The notes will accrue interest at 0.50% per annum and mature on May 1, 2031, unless earlier repurchased, redeemed, or exchanged. The initial exchange rate is 17.9352 shares of common stock per $1,000 principal amount of notes, which represents an initial exchange price of ~$55.76 per share of common stock - a premium of ~37.5% above the last reported sale price on October 27, 2025.

Net proceeds are estimated to be $1,127.0 million, or $1,274.0 million if the initial purchasers fully exercise their option to purchase additional notes. Proceeds will be used to fund growth across Galaxy's core operating businesses and for general corporate purposes.

GLXY -9.5% premarket.