Galaxy Secures $402.5 Million in Exchangeable Senior Notes Offering

Deal News | Dec 06, 2024 | Goodwin

Goodwin's Capital Markets team has advised the initial purchasers in Galaxy Digital Holdings LP's offering of $402.5 million in 2.500% Exchangeable Senior Notes due 2029. These notes are initially exchangeable for ordinary shares of Galaxy Digital Holdings Ltd., but will later be exchangeable for shares of Galaxy Digital Inc., subject to Galaxy's corporate restructuring and relocation to the United States. Galaxy Digital, listed on the TSX under the ticker GLXY, is a key player in the digital asset and blockchain sectors, providing a trio of core services: global markets, asset management, and digital infrastructure. Goodwin's team involved a comprehensive group of corporate, regulatory, and specialist lawyers, covering areas from digital currency and blockchain to tax and global trade.

Sectors

  • Digital Assets
  • Financial Services
  • Legal Advisory

Geography

  • United States – The re-domiciliation of Galaxy Digital to the United States is a future component of the transaction.
  • Cayman Islands – Current domicile of Galaxy Digital Holdings Ltd., where the initial exchangeable shares are based.

Industry

  • Digital Assets – The article discusses Galaxy Digital, a digital asset and blockchain firm, highlighting its role in the growing digital economy.
  • Financial Services – Galaxy Digital is involved in financial services through its global markets and asset management divisions.
  • Legal Advisory – Goodwin provided legal advice for the financial transaction, requiring expertise in capital markets and regulatory issues.

Financials

  • $402.5 Million – Aggregate principal amount of the exchangeable senior notes being offered by Galaxy Digital.

Participants

NameRoleTypeDescription
Galaxy Digital Holdings LPIssuer of the NotesCompanyA leader in digital asset and blockchain providing services in global markets, asset management, and digital infrastructure.
GoodwinLegal AdvisorCompanyProvided legal counsel for the transaction, advising the initial purchasers on Galaxy Digital’s senior notes offering.
Jim BarriProduct Team MemberPersonPart of Goodwin's capital market team advising the transaction.
John ServidioProduct Team MemberPersonPart of Goodwin's capital market team advising the transaction.
Kim de GlossopProduct Team MemberPersonPart of Goodwin's capital market team advising the transaction.
Ben MarshCorporate Team MemberPersonPart of Goodwin's corporate team advising the transaction.
Jon BurrCorporate Team MemberPersonPart of Goodwin's corporate team advising the transaction.
Li ChangCorporate Team MemberPersonPart of Goodwin's corporate team advising the transaction.
Nikki MillerCorporate Team MemberPersonPart of Goodwin's corporate team advising the transaction.
Madison ClausiusCorporate Team MemberPersonPart of Goodwin's corporate team advising the transaction.
Mitzi ChangDigital Currency & BlockchainPersonSpecialist in digital currency and blockchain at Goodwin.
Meghan SpillaneDigital Currency & BlockchainPersonSpecialist in digital currency and blockchain at Goodwin.
Nick LosurdoSpecialist - FINPersonSpecialist in financial services regulation at Goodwin.
Greg LarkinSpecialist - FINPersonSpecialist in financial services regulation at Goodwin.
Chris GrobbelSpecialist - FINPersonSpecialist in financial services regulation at Goodwin.
Sammy TangSpecialist - AMLPersonSpecialist in anti-money laundering compliance at Goodwin.
Dan KarelitzSpecialist - TaxPersonTax specialist at Goodwin.
Garrett GaughanSpecialist - TaxPersonTax specialist at Goodwin.
Jason WilcoxSpecialist - Global TradePersonGlobal trade specialist at Goodwin.
Jackie KlosekSpecialist - PrivacyPersonPrivacy specialist at Goodwin.
Jia Jia HuangSpecialist - IPPersonIntellectual property specialist at Goodwin.
Patrick MenascoSpecialist - ERISAPersonERISA specialist at Goodwin.