Galaxy Digital Shares Sink 17% With Equity Raising
Provided by
Dow Jones
By Robb M. Stewart
Galaxy Digital's shares fell sharply Tuesday after the digital asset and blockchain company moved to raise roughly $125 million via a bought deal public stock offering.
In morning trading, the shares were 17% lower at C$13.29, narrowing the year-to-date advance to 28%.
Galaxy, which has earmarked the proceeds for working capital and general corporate purposes, said it will sell 2.35 million of its shares at 14 Canadian dollars ($10.31) each to underwriter Canaccord Genuity.
The offering is set to close on or about Friday, Galaxy said.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
April 09, 2024 11:15 ET (15:15 GMT)
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