Securing May Debut on Nasdaq: Galaxy Digital Set for Approval Vote, Anticipated Stock Launch
Heads Up! Galaxy Digital's Nasdaq Debut in Sight
Get ready for a saunter down Wall Street as crypto investment juggernaut, Galaxy Digital, gears up for a Nasdaq listing! The official announcement drop on April 30 has set May 16, 2025, as the date for trading on the esteemed Nasdaq Global Select Market under the ticker symbol GLXY.
This transition marks a milestone in Galaxy's long-awaited leap into the U.S. markets, with CEO Mike Novogratz billing it as a "transformative moment" solidifying the firm's vision to create a digital assets and AI gateway. According to Novogratz, the Nasdaq listing serves several purposes: enhancing shareholder value and forging a wider pool of U.S. investors.
At present, Galaxy holds court on the Toronto Stock Exchange under its current ticker, GLXY. On April 30, the company's shares received a 3.94% bump upon the announcement, closing at CAD $21.92 according to Google Finance data.
Before the grand entrance, Galaxy's shareholders must rubber-stamp a proposed reorganization and corporate relocation from the Cayman Islands to Delaware. A special shareholder meeting has been set for May 9, and pending a yes vote, the new entity, Galaxy Digital Inc., will take the helm as the U.S.-listed firm.
Earlier, the U.S. Securities and Exchange Commission go-ahead came in the form of the approval of the company's Form S-4 registration statement on April 7. This filing outlines the reorganization plans, detailing a one-for-one share swap for existing shareholders without alterations to their voting power or economic interest.
Galaxy has already handed out voting materials to eligible shareholders ahead of the May 9 meeting, making sure they understand the transformative journey ahead and how to cast their votes. To participate, shareholders must be on record as of April 7, and the process is managed by TMX Investor Solutions Inc.
Post-Nasdaq listing, Galaxy Digital Inc. will operate in dual listings across both the U.S. and Canadian markets for a while, maintaining its Toronto Stock Exchange presence. Over-the-counter shares (BRPHF) will transform into GLXY shares under a unified CUSIP code.
Galaxy sets its headquarters in New York, with branch offices sprawled across North America, Europe, the Middle East, and Asia. Keep your eyes peeled for more updates on this unfolding drama!
Sidenote: Crypto miners might find a more profitable cache hunting for AI returns, as hinted by Galaxy Digital's forward-looking strategy. As ever, the crypto world abounds with intrigue and surprises!
[1] Securities and Exchange Commission (SEC) approval of Form S-4 registration statement (April 7, 2025)[2] Announcement of proposed reorganization and transition to Delaware (Not dated)[3] Proposed new voting framework to reduce Solana inflation (April 25, 2025)[4] Shareholder materials and voting instructions provided (April 30, 2025)[5] Market confidence in crypto stocks spikes after April 2025 rally (April 25, 2025)
- The securities regulatory body, the U.S. Securities and Exchange Commission (SEC), approved Galaxy Digital's Form S-4 registration statement on April 7, 2025.
- Galaxy Digital has proposed a reorganization and corporate relocation from the Cayman Islands to Delaware, which requires approval from its shareholders.
- According to the reorganization plans, existing shareholders will undergo a one-for-one share swap, preserving their voting power and economic interest, upon the transition to the U.S. market.
- The proposed new voting framework for Solana tokens, aiming to reduce inflation, was announced on April 25, 2025.
- Following the Nasdaq listing, Galaxy Digital Inc. will maintain a presence on the Toronto Stock Exchange, with its over-the-counter shares (BRPHF) converting into GLXY shares under a unified CUSIP code.
- Crypto enthusiasts may find flourishing opportunities in AI returns within the crypto world, as hinted by Galaxy Digital's forward-looking strategy, and intrigue continues to abound in this dynamic field.
