Galaxy Digital Inc. Announces Pricing of Its Upsized Public Offering of Common Stock
NEW YORK, May 29, 2025 /CNW/ - Galaxy Digital Inc. ("Galaxy" or the "Company") (NASDAQ: GLXY) (TSX: GLXY), a global leader in digital assets and data center infrastructure, today announced the pricing of its upsized underwritten offering of 31,600,000 shares of its Class A common stock, consisting of 26,400,000 shares offered by Galaxy and 5,200,000 shares offered by certain stockholders of Galaxy, at the public offering price of $19.00 per share. The underwriters for the offering also have a 30-day option to purchase up to 4,740,000 additional secondary shares, at the public offering price less the underwriting discount. The size of the offering increased from the previously announced 29,000,000 shares to 31,600,000 shares. This is Galaxy's first underwritten public offering of its Class A common stock as a listed company on the Nasdaq Global Select Market. The offering is expected to close on June 3, 2025, subject to customary closing conditions.
Galaxy intends to use the net proceeds from the sale of the shares of Class A common stock offered in the offering by Galaxy to purchase newly issued limited partnership units ("LP Units") from its operating subsidiary, Galaxy Digital Holdings LP ("GDH LP"). GDH LP will use the proceeds from the sale of LP Units to finance the continued expansion of its artificial intelligence and high-performance computing infrastructure at its Helios data center campus in the panhandle region of West Texas, and for general corporate purposes. Galaxy will not receive any proceeds from the sale of the shares of the selling stockholders.
Goldman Sachs & Co. LLC, Jefferies and Morgan Stanley are acting as active joint book-running managers for the offering; Canaccord Genuity, Cantor, Keefe, Bruyette & Woods, A Stifel Company, Piper Sandler and BTIG are acting as additional joint book-running managers for the offering; and ATB Capital Markets, The Benchmark Company, Compass Point, H.C. Wainwright & Co. and Rosenblatt are acting as co-managers for the offering. Galaxy Digital Partners acted as strategic advisor for the offering.
This offering is being made only by means of a prospectus. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (the "SEC"). Before you invest, you should read the prospectus in that registration statement and other documents Galaxy has filed with the SEC for more complete information about Galaxy and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, a copy of the final prospectus related to the offering may be obtained from Galaxy, any underwriter or any dealer participating in the offering, when available, from: Goldman Sachs & Co. LLC, attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone: 1-866-471-2526 or by email at [email protected]; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone (877) 821-7388 or by email at [email protected]; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any shares of Class A common stock, nor shall there be any sale of shares of Class A common stock, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The shares of Class A common stock subject to the offering have not been qualified for distribution by a prospectus in Canada and consequently may not be offered, sold or delivered in Canada or for the account of any Canadian resident except in transactions exempt from, or not subject to, the prospectus requirements of applicable Canadian securities laws. Shares of Class A common stock issued by the Company in Canada as part of the offering will be subject to resale restrictions for a period of four months and one day from the date of their issuance in accordance with applicable Canadian securities law. The TSX has neither approved nor disapproved the contents of this press release. No securities commission or similar regulatory authority in Canada has reviewed or passed on the merits of the offering.
ABOUT GALAXY DIGITAL INC.
Galaxy Digital Inc. (NASDAQ/TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we invest in and operate cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the U.S. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East and Asia.
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and "forward-looking information" under Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements are statements other than historical facts and may include statements that address future operating, financial or business performance or Galaxy's strategies or expectations, including those about the offering and the timing of its closing. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this document are based on our current expectations and beliefs concerning future developments and their potential effects on us taking into account information currently available to us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks include, but are not limited to the risks contained in filings we make with the Securities and Exchange Commission (the "SEC") from time to time, including in the prospectus for the offering and in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, filed with the SEC on May 13, 2025. Forward-looking statements speak only as of the date they are made. Except as required by law, we assume no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements. You should not take any statement regarding past trends or activities as a representation that the trends or activities will continue in the future. Accordingly, you should not put undue reliance on these statements.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
33 minutes ago
- Globe and Mail
Stocks Finish Higher on Chip Stock Strength and Healthy US Labor Market
The S&P 500 Index ($SPX) (SPY) Tuesday closed up +0.58%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.51%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.79%. June E-mini S&P futures (ESM25) are up +0.58%, and June E-mini Nasdaq futures (NQM25) are up +0.81%. Stock indexes on Tuesday shook off early losses and rallied, with the S&P 500 posting a 3-month high, the Dow Jones Industrials posting a 2-week high, and the Nasdaq 100 posting a 3-1/4 month high. Strength in chip makers on Tuesday boosted technology stocks and supported gains in the broader market. Stocks extended their gains on signs of a healthy US labor market after the Apr JOLTS job openings report showed an unexpected increase in job listings. The upside in stocks was muted Tuesday after the OECD cut its 2025 global GDP forecast for the second time this year, citing trade barriers and uncertainty that are weighing on economic confidence. Also, the steeper-than-expected decline in US April factory orders was bearish for equity prices. In addition, the heightened trade tensions between the US and China continue to weigh on stock prices following China's Ministry of Commerce's accusation on Monday that the US had unilaterally introduced new discriminatory restrictions. US Apr factory orders fell -3.7% m/m, weaker than expectations of -3.2% m/m and the biggest decline in 15 months. US Apr JOLTS job openings unexpectedly rose +191,000 to 7.391 million, showing a stronger labor market than expectations of a decline to 7.100 million. Comments on Tuesday from Atlanta Fed President Bostic were slightly hawkish and negative for stocks and bonds when he said he's in no rush to cut interest rates as 'there's still a way to go in terms of progress on inflation.' The Organization for Economic Cooperation and Development (OECD) cut its global 2025 GDP forecast to +2.9% from a March forecast of +3.1%, citing the impact of tariffs and uncertainty on confidence and investment. Weakness in Chinese manufacturing activity is negative for global growth prospects. The China May Caixin manufacturing PMI unexpectedly fell -2.1 to 48.3, weaker than expectations of an increase to 50.7 and the lowest level in more than 2-1/2 years. The markets are discounting the chances at 1% for a -25 bp rate cut at the next FOMC meeting on June 17-18. The markets this week will focus on any new trade or tariff news. On Wednesday, the May ADP employment change is expected to climb by +110,000, and the May ISM services index is expected to rise +0.5 to 52.1. On Thursday, weekly initial unemployment claims are expected to fall by -5,000 to 235,000. On Friday, May nonfarm payrolls are expected to climb +125,000, and the May unemployment rate is expected to remain unchanged at 4.2%. Finally, May average hourly earnings are expected to rise +0.3% m/m and +3.7% y/y. Overseas stock markets on Tuesday settled mixed. The Euro Stoxx 50 closed up +0.38%. China's Shanghai Composite closed up +0.43%. Japan's Nikkei Stock 225 closed down -0.06%. Interest Rates September 10-year T-notes (ZNU2 5) Tuesday close down -0.5 of a tick. The 10-year T-note yield rose +1.8 bp to 4.458%. Sep T-notes on Tuesday gave up early gains and turned lower after the US Apr JOLTS job openings unexpectedly rose, a hawkish factor for Fed policy. Also, hawkish comments from Atlanta Fed President Bostic weighed on T-notes when he said he's in no rush to cut interest rates. In addition, Tuesday's rally in the S&P 500 to a 3-month high reduced safe-haven demand for T-notes. T-notes on Tuesday initially moved higher on positive carryover from a rally in European government bonds due to an ECB-friendly Eurozone May CPI report. Also, Tuesday's action by the OECD to cut its global 2025 GDP forecast for the second time this year was supportive of T-notes. In addition, the slide in US Apr factory orders by the most in 15 months was supportive for T-notes. European government bond yields on Tuesday were mixed. The 10-year German bund yield rebounded from a 3-1/2 week low of 2.485% and finished up +0.1 bp to 2.525%. The 10-year UK gilt yield dropped to a 3-week low of 4.601% and finished down -2.9 bp to 4.638%. Eurozone May CPI eased to +1.9% y/y from +2.2% y/y in Apr, better than expectations of +2.0% y/y and the smallest increase in 8 months. May core CPI eased to +2.3% y/y from +2.7% y/y in Apr, better than expectations of +2.4% y/y and the smallest increase in 3-1/3 years. The Eurozone Apr unemployment rate fell -0.1 and matched the record low of 6.2%, right on expectations. Swaps are discounting the chances at 97% for a -25 bp rate cut by the ECB at Thursday's policy meeting. US Stock Movers Strength in chip stocks supported gains in the broader market. ON Semiconductor Corp (ON) closed up more than +11% to lead gainers in the Nasdaq 100. Also, Microchip Technology (MCHP) closed up more than +6%, and Micron Technology (MU) closed up more than +4%. In addition, NXP Semiconductors NV (NXPI) and Broadcom (AVGO) closed up more than +3%, and Nvidia (NVDA) closed up more than +2% to lead gainers in the Dow Jones Industrials. Finally, Advanced Micro Devices (AMD), Applied Materials (AMAT), GlobalFoundries (GFS), ARM Holdings Plc (ARM), and Texas Instruments (TXN) closed up more than +2%. Dollar General (DG) closed up more than +15% to lead gainers in the S&P 500 after reporting Q1 net sales of $10.44 billion, stronger than the consensus of $10.28 billion, and raising its 2026 net sales forecast to +3.7% to +4.7% from a previous view of +3.4% to +4.4%. MoonLake Immunotherapeutics (MLTX) closed up more than +18% after the Financial Times reported that Merck held talks to acquire the company. Ferguson Enterprises (FERG) closed up more than +17% after reporting Q3 revenue of $7.62 billion, above the consensus of $7.41 billion. Signet Jewelers (SIG) closed up more than +12% after reporting Q1 sales of $1.54 billion, above the consensus of $1.52 billion, and raising its 2026 adjusted EPS forecast to $7.70-$9.38 from a previous forecast of $7.31-$9.10, the midpoint above the consensus of $8.39. Pinterest (PINS) closed up more than +3% after JPMorgan Chase upgraded the stock to overweight from neutral with a price target of $40. Lululemon Athletica (LULU) closed up more than +3%6after Evercore ISI raised its price target on the stock to $400 from $320. Real Estate Investment Trust companies (REITs) retreated Tuesday. Mid-America Apartment Communities (MAA) closed down more than -2%. Also, Welltower (WELL), Healthpeak Properties (DOC), AvalonBay Communities (AVB), Equity Residential (EQR), and Essex Property Trust (ESS) closed down more than -1%. Kenvue (KVUE) closed down more than -5% to lead losers in the S&P 500 after CEO Mongon warned that seasonal demand is behind last year and the company's expectations. EchoStar (SATS) closed down more than -11% after deciding not to make a $183 million cash interest payment due June 2 in light of uncertainty raised by an FCC review. Earnings Reports (6/4/2025) Dollar Tree Inc (DLTR), Five Below Inc (FIVE), MongoDB Inc (MDB), PVH Corp (PVH), Thor Industries Inc (THO).
Cision Canada
an hour ago
- Cision Canada
Aurora Cannabis to Host Fourth Quarter and Fiscal Year 2025 Investor Conference Call and File Related Year End Information
NASDAQ| TSX: ACB EDMONTON, AB, June 3, 2025 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (NASDAQ: ACB) (TSX: ACB), the Canadian based leading global medical cannabis company, announced today that it has scheduled a conference call to discuss the results for its fourth quarter and fiscal year 2025 on Wednesday, June 18, 2025 at 8:00 a.m. Eastern Time | 6:00 a.m. Mountain Time. The Company will report its financial results for the fourth quarter fiscal year 2025 before the opening of markets that same day. Conference Call Details Miguel Martin, Executive Chairman and Chief Executive Officer, and Simona King, Chief Financial Officer, will host the conference call and question and answer period. This weblink has also been posted to the Company's "Investor Info" link at under "Events". About Aurora Cannabis Aurora is opening the world to cannabis, serving both the medical and consumer markets across Canada, Europe, Australia and New Zealand. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis, dedicated to helping people improve their lives. The Company's adult- use brand portfolio includes Drift, San Rafael '71, Daily Special, Tasty's, Being and Greybeard. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co, as well as international brands, Pedanios, IndiMed and CraftPlant. Aurora also has a controlling interest in Bevo Farms Ltd., North America's leading supplier of propagated agricultural plants. Driven by science and innovation, and with a focus on high-quality cannabis products, Aurora's brands continue to break through as industry leaders in the medical, wellness and adult recreational markets wherever they are launched. Learn more at and follow us on X and LinkedIn. Aurora's common shares trade on the NASDAQ and TSX under the symbol "ACB". Forward Looking Statements This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements made in this news release include, but are not limited to, statements regarding the timing of the release of the Company's financial statements for fourth quarter and fiscal year ended March 31, 2025 and scheduling of the conference call to discuss results. These forward-looking statements are only predictions. Forward looking information or statements contained in this news release have been developed based on assumptions management considers to be reasonable. Material factors or assumptions involved in developing forward-looking statements include, without limitation, publicly available information from governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of this industry which the Company believes to be reasonable. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the timing, magnitude and duration of potential new or increased tariffs imposed on goods imported from Canada into the United States, the ability to retain key personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of our products, customer experience and retention, the development of third party government and non-government consumer sales channels, management's estimates of consumer demand in Canada and in jurisdictions where the Company exports, expectations of future results and expenses, the risk of successful integration of acquired business and operations (with respect to the Transaction and more generally with respect to future acquisitions), management's estimation that SG&A will grow only in proportion of revenue growth, the ability to expand and maintain distribution capabilities, the impact of competition, the general impact of financial market conditions, the yield from cannabis growing operations, product demand, changes in prices of required commodities, competition, and the possibility for changes in laws, rules, and regulations in the industry, epidemics, pandemics or other public health crises and other risks, uncertainties and factors set out under the heading "Risk Factors" in the Company's annual information from dated June 20, 2024 (the "AIF") and filed with Canadian securities regulators available on the Company's issuer profile on SEDAR+ at and filed with and available on the SEC's website at The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
Cision Canada
an hour ago
- Cision Canada
Pet Valu Holdings Ltd. Announces C$576 Million Secondary Bought Deal Offering
Base shelf prospectus is accessible, and prospectus supplement will be accessible within two business days, on SEDAR+ /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./ MARKHAM, ON, June 3, 2025 /CNW/ - Pet Valu Holdings Ltd. ("Pet Valu" or the "Company") (TSX: PET), the leading Canadian specialty retailer of pet food and pet-related supplies, announced today that PV Holdings S.à r.l., Roark Capital Partners II AIV AG, L.P., RCPS Equity Cayman LP and Roark Capital Partners Parallel II AIV AG, L.P. (collectively, the "Selling Shareholders"), have entered into an agreement with RBC Capital Markets and CIBC Capital Markets (the "Underwriters") to complete a secondary offering on a bought deal basis (the "Offering"). Under the agreement, the Underwriters have agreed to purchase 19,969,450 common shares ("Common Shares") of the Company at a purchase price of C$28.85 per Common Share for total gross proceeds to the Selling Shareholders of approximately C$576 million. The net proceeds of the Offering will be paid directly to the Selling Shareholders. The Company will not receive any proceeds from the Offering. The Common Shares will be offered by way of a prospectus supplement to the short form base shelf prospectus of the Company dated August 15, 2024 in all of the provinces and territories of Canada and may also be offered by way of private placement in the United States. The Offering is expected to close on or about June 9, 2025, subject to customary closing conditions. Following the completion of the Offering, the Selling Shareholders will no longer own any common shares of Pet Valu. As a result, the investor rights agreement (the "Investor Rights Agreement") between the Company and the Selling Shareholders, which provided the Selling Shareholders with certain contractual rights related to, among other things, the nomination of directors of the Company, will terminate in accordance with its terms. Clayton Harmon, Patrick Hillegass and Kevin Hofmann are nominees of the Selling Shareholders on the board of directors of the Company pursuant to the Investor Rights Agreement. In connection with the termination of the Investor Rights Agreement, the Company anticipates that Clayton Harmon will resign as a director, and Patrick Hillegass and Kevin Hofmann will continue as directors of the Company pending identification by the board of directors of suitable replacement directors. Richard Maltsbarger, Chief Executive Officer of Pet Valu, commented, "this transaction marks a significant milestone after a successful relationship between Pet Valu and Roark. We extend our sincere gratitude to Roark who, as franchise business model specialists, helped transform Pet Valu from a regional 350-store network into Canada's largest pet specialty retailer serving millions of devoted pet lovers annually. Their expertise, stewardship, and patience enabled us to make multi-year investments in people, processes, and systems to drive growth." "With an unmatched, national omni-channel presence and modernized supply chain, Pet Valu is very well positioned to continue its strong track record of growth," continued Mr. Maltsbarger. "We expect to continue to deliver compelling returns to our shareholders and franchisee owners as we pursue our mission to be Canada's preferred pet retailer." Clayton Harmon, Managing Director at Roark Capital Management, LLC, added, "we wish Richard, Linda, Greg, and everyone at Pet Valu all the best. With its high-quality brand, franchisees, team, and shareholders, we look forward to watching its continued success in the years ahead." The Common Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly, in the United States (as such term is defined in Regulation S under the U.S. Securities Act) or to, or for the account or benefit of, U.S. Persons (as defined in the U.S. Securities Act), except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or solicitation of an offer to buy any Common Shares in any jurisdiction in which the offering or sale is not permitted. Access to the prospectus supplement, the base shelf prospectus and any amendments to the documents is provided in accordance with securities legislation relating to procedures for providing access to a prospectus supplement, a base shelf prospectus and any amendment. The base shelf prospectus is, and the prospectus supplement will be (within two business days of the date hereof), accessible on SEDAR+ at An electronic or paper copy of the prospectus supplement, the base shelf prospectus and any amendment to the documents may be obtained, without charge, from RBC Dominion Securities Inc., Attention: Distribution Centre, 180 Wellington Street West, 8th Floor, Toronto, ON M5J 0C2 or by email at [email protected] or CIBC Capital Markets, 161 Bay Street, 5th Floor, Toronto, ON M5J 2S8 or by telephone at 416-956-6378 or by email at [email protected] by providing the contact with an email address or address, as applicable. The base shelf prospectus and prospectus supplement contain important, detailed information about the Company and the proposed Offering. Prospective investors should read the base shelf prospectus and prospectus supplement (when filed) before making an investment decision. About Pet Valu Pet Valu is Canada's leading retailer of pet food and pet-related supplies with over 800 corporate-owned or franchised locations across the country. For more than 45 years, Pet Valu has earned the trust and loyalty of pet parents by offering knowledgeable customer service, an extensive product offering and engaging in-store services. Through its local neighbourhood stores and digital platform, Pet Valu offers more than 10,000 competitively-priced products, including a broad assortment of exclusive, holistic and award-winning proprietary brands. The Company is headquartered in Markham, Ontario, and has distribution centres in Brampton, Ontario, Surrey, British Columbia and Calgary, Alberta. Its shares trade on the Toronto Stock Exchange (TSX: PET). To learn more, please visit: Forward-Looking Information Some of the information contained in this press release is forward-looking information. Forward-looking information is provided as at the date of this press release and is based on management's opinions, estimates and assumptions in light of its experience and perception of historical trends, current trends, current conditions and expected future developments, as well as other factors that management believes appropriate and reasonable in the circumstances. Such forward-looking information is intended to provide information about management's current expectations and plans, and may not be appropriate for other purposes. Pet Valu does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable Canadian securities laws. Actual results and the timing of events may differ materially from those anticipated in the forward-looking information as a result of various factors and assumptions, and subject to the risks as set out in the Company's annual information form dated March 3, 2025 and as discussed under "Risk Factors" in the prospectus supplement and short form base shelf prospectus.
