Galaxy Digital Seeks Nasdaq Launch in May Following SEC Approval
Galaxy Digital is getting closer to its long-anticipated U.S. stock market entry following the Securities and Exchange Commission’s approval of the company’s registration statement.
As per the company’s official announcement on April 7, the approved Form S-4 pertains to Galaxy’s previously disclosed initiative to relocate its base from the Cayman Islands to Delaware and create a new U.S.-based holding company, Galaxy Digital Inc. (“New Pubco”).
In the reorganization process, current shareholders will receive shares of New Pubco’s Class A common stock on a one-for-one basis, maintaining their economic interest and voting power without changes.
The company plans to list the Class A shares on the Nasdaq Global Select Market under the ticker symbol “GLXY.” To finalize the reorganization, Galaxy has scheduled a special shareholder meeting on May 9, 2025. Shareholders recorded as of April 7 will be eligible to vote.
If approved, the reorganization and listing are anticipated to conclude by mid-May, pending final approval from the Toronto Stock Exchange, where Galaxy is currently listed. After the completion of the transaction, Galaxy Digital Inc. will continue to be listed on the TSX for a transitional period, enabling dual listing of shares in both U.S. and Canadian markets.
CEO Mike Novogratz referred to the announcement as “an important milestone” and emphasized that the transition aligns with Galaxy’s broader objective of expanding digital asset services and artificial intelligence infrastructure in regulated U.S. environments.
“This marks an important milestone for Galaxy, as we take a significant step toward advancing our mission of driving innovation and growth across digital assets and artificial intelligence infrastructure. We look forward to completing the transaction this quarter.”
— Mike Novogratz, Galaxy Digital CEO
To help manage the shareholder voting process, Galaxy has engaged TMX Investor Solutions Inc. A detailed document regarding the reorganization, its reasoning, and voting procedures will be sent to shareholders shortly.
Galaxy Digital is recognized for providing institutional-level cryptocurrency services such as trading, asset management, and tokenization. The company has expanded its presence across North America, Europe, and Asia and has made substantial investments in high-performance computing infrastructure and AI.