​Galaxy Digital Places $ 500 Million Convertible Bonds Crypto | Cryptocurrency Bitcoin NEWS

​Galaxy Digital Places $ 500 Million Convertible Bonds

Crypto trading bank Galaxy Digital has announced a $ 500 million offering of convertible unsecured senior notes due December 15, 2026. This is stated in a press release.

The securities were purchased by qualified investors in a private placement.

A coupon with a rate of 3% per annum is paid every six months - June 15 and December 15.

Galaxy Digital plans to use the raised funds to “accelerate growth initiatives in their business areas and for general corporate goals”.

Earlier, the board of directors approved the proposed corporate reorganization in connection with the relocation from Canada to the United States.

Under certain circumstances and during designated periods, bondholders will be able to convert them into shares in the Delaware holding company Galaxy Digital, or, at the discretion of the issuer, into cash or a combination of both.

Starting from December 15, 2024, the crypto trading bank can fully or partially redeem the bonds in accordance with the conditions specified in the securities prospectus.