Shares of Galaxy Digital Inc. plunged in after-hours trading after the company’s operating partnership announced a $1 billion sale of exchangeable bonds.
Galaxy Digital Holdings LP is offering the 5.5-year bonds, which are exchangeable into common shares of Galaxy Digital, with a coupon of 0.5% to 1%, according to people familiar with the matter. The digital asset firm’s shares are traded in New York and Toronto.
The US shares fell 10.3% to $36.45 each as of 5:43 p.m. on Monday following the announcement of the deal. They had climbed 134% in New York through Monday’s close.
The bonds are due ...
