TechFlow, Oct 28 — According to Bloomberg, shares of digital asset firm Galaxy Digital Inc. plunged in after-hours trading following its announcement that its operating partnership plans to issue $1 billion in exchangeable bonds. At the time of publication, the stock was down approximately 8% after hours.
The offering, according to people familiar with the matter, involves Galaxy Digital Holdings LP issuing bonds with a maturity of 5.5 years. The bonds are exchangeable into common shares of Galaxy Digital and carry a coupon rate between 0.5% and 1%. The digital asset company's stock is listed on exchanges in both New York and Toronto.
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