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Galaxy Digital Holdings Ltd. revealed that the company is seeking to raise US$500 million through the issuance of exchangeable senior notes. The investment company was founded in January 2018 by billionaire investor Mike Novogratz to use these funds to “accelerate its business line growth plan.”
Galaxy launches exchangeable senior notes issuance
Investment company Galaxy Digital (Toronto Stock Exchange: GLXY) Aims to raise US$500 million through the issuance of exchangeable senior notes. Convertible debt will be used to continue to expand the business. Galaxy specified that the private placement will end in early December 2021 and must be approved by the Toronto Stock Exchange (TSX). The announcement explained that the bills will only be sold to people who qualify as “institutional buyers.”
“Galaxy Digital has agreed to issue and sell 3.00% exchangeable senior notes with a total principal amount of US$500 million to certain purchasers (including Arca, NZ Funds, Senator Investment Group, and XN affiliates) pursuant to the Securities Act of 1933 ,” Yinhe revealed on Tuesday. Galaxy further added:
Galaxy Digital intends to use the proceeds from the issuance of notes to accelerate its business line and general corporate growth plans.
Galaxy raised $325 million for Interactive Fund in October, and a large number of crypto companies used the debt market to raise funds
The plan to raise $500 million in the debt market follows Galaxy’s Recent financing It was US$325 million in October. The $325 million in funding will be linked to the company’s second interactive content and technology fund. Some of Galaxy’s interactive fund investments have been publicly announced, including projects such as Masterworks, Art Blocks, ROAR, 1047 Games, Elodie and Republic.
Galaxy also launched a decentralized finance (defi) fund in August last year, giving investors access to countless defi tokens. In mid-November, the Milky Way Join hands Collaborate with well-known publications and global media brands timeGalaxy Digital Holdings Ltd. is not the only crypto company in the industry that takes advantage of the expansion of the debt market. Marathon Digital Holdings disclose It is planned to raise US$500 million from convertible senior notes on November 15.
The listed company Microstrategy has lever Exchangeable priority notes products and purchase of Bitcoin (Bitcoin) On various occasions. At the time of writing, Galaxy stock price has risen 174% so far this year, exchanged at $8.74 on January 4, and changed hands at $24.01 today. Currently, Galaxy has USD 650 million in assets under management (AUM) and a series of investments in more than 75 companies.
How do you think Galaxy Digital hopes to raise US$500 million through convertible notes? Please tell us your thoughts on this topic in the comments section below.
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