Galaxy Digital Inc (NASDAQ:GLXY) shares are falling in extended trading Monday after the company announced a private offering of exchangeable senior notes.
- GLXY stock is struggling to find support. Get the complete picture here.
What Happened: Galaxy Digital said it intends to offer $1 billion of exchangeable senior notes due 2031 in a private offering. The company plans to give the initial purchasers a 13-day option to buy up to an additional $150 million of the notes.
Galaxy said it expects to use the net proceeds to support growth across its core operating businesses, as well as for general corporate purposes, which may include the repayment of existing exchangeable senior notes due 2026.
Galaxy had approximately $1.14 billion in total cash and cash equivalents as of Sept. 30.
How To Buy GLXY Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Galaxy Digital's case, it is in the Financials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
GLXY Price Action: Galaxy Digital shares were down 9.27% in after-hours, trading at $36.78 at the time of publication on Monday, according to Benzinga Pro.
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