Galaxy Digital plans to raise $ 500 million on the debt market to accelerate growth initiatives - Finance
Galaxy Digital plans to raise $ 500 million on the debt market to accelerate growth initiatives - Finance
Galaxy Digital Holdings Ltd. Has announced that the company wants to apply $ 500 million in an interchangeable senior Notes offer. The investment company, founded by billionaire Mike Novogratz in January 2018, wants to "accelerate growth initiatives in their business areas".
The investment company Galaxy Digital (TSX: GLXY ) aims to procure $ 500 million over an exchangeable senior notes offer. The convertible bond is used to further expand the business. Galaxy states that private placement will be completed in early December 2021 and is subject to the approval of the Toronto Stock Exchange (TSX). Notes are only sold to people who qualify as "institutional buyers", according to the message. "Galaxy Digital has agreed to be a total nuclear amount of 500 million, including the SECURITIES ACT from 1933 to certain buyers, including related companies from ARCA, NZ Funds, Senator Investment Group and XN," announced on Tuesday. Galaxy added: Galaxy Digital intends to use the proceeds from the Notes offer to accelerate growth initiatives in its business areas and for general corporate purposes. The plan for the procurement of $ 500 million on the debt market follows that of Galaxy Last capital increase of $ 325 million in October. The financing of $ 325 million is bound to the company's second interactive content and technology funds. Some of the interactive fund investments by Galaxy have been publicly announced and include projects such as master works, Art Blocks, Roar, 1047 Games, Elodie and Republic. Galaxy also initiated a decentralized financial fund (Defi-Fonds) last August, which enables investors a variety of defi tokens. Mid -November, Galaxy combined forces with the well-known publication and global media brand Zeit . Galaxy Digital Holdings Ltd. is not the only crypto company in the industry that uses debt markets for expansion, as Marathon Digital Holdings plans on November 15th, 500 million US dollars from convertible lines to procure. The listed company Microstrategy has pronounced Senior notes offers as well as for the purchase of bitcoin ( btc ) on different occasions. At the time of the letter, the Galaxy shares have risen by 174% since the beginning of the year, were exchanged for $ 8.74 on January 4 and today changed owners for $ 24.01. Galaxy currently manages an managed assets (AUM) of $ 650 million and a number of investments in more than 75 companies. What do you think that Galaxy Digital wants to raise $ 500 million with convertible bonds? Let us know your opinion on this topic in the comments below. Bedy verification : Shutterstock, Pixabay, Wiki Commons galaxy unveiled offer for interchangeable senior notices
Galaxy collected $ 325 million for Interactive Fund in October, a number of crypto companies that use debt markets to obtain capital
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