Galaxy Digital falls after planned $1 bln exchangeable bonds sale announced
Shares of digital assets and data center infrastructure firm Galaxy Digital GLXY.O down 8.3% at $37.20 in extended trading as it looks to raise capital
New York City-based GLXY announces private offering of $1 bln exchangeable notes due May 31, 2031
Co plans to use net offering proceeds to support growth, and for general corporate purposes, including repayment of its existing exchangeable senior notes due 2026
With ~389.85 mln shares outstanding, GLXY has about $15.8 bln market cap, per LSEG data
Stock closed up 1.8% at $40.55 on Mon, up nearly 40% over the past three months
GLXY, founded by Mike Novogratz, has been listed on TSX since 2020 and made its Nasdaq debut in May
All 11 analysts covering GLXY are bullish; median PT of $61.69 up from $49.09 a month ago - LSEG
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