- Galaxy Digital secures Nasdaq direct listing approval, pending shareholder vote on May 9.
- CEO Mike Novogratz emphasizes U.S. market expansion with dual listing under ticker GLXY.
Billionaire Michael Novogratz’s Galaxy Digital Holdings Ltd. has received approval for a direct listing on the Nasdaq stock exchange. According to a press release issued by Galaxy Digital, the company announced that trading will begin soon after a special shareholder meeting.
Galaxy Digital has filed an approved Form S-4 to support its transition from the Cayman Islands to Delaware as part of its growth strategy. The move will also include creating a new U.S.-based holding company, Galaxy Digital Inc. (New Pubco). In an official statement on April 7, Galaxy confirmed that the U.S. Securities and Exchange Commission (SEC) had approved its registration to shift operations and list on the Nasdaq.
Shareholders will vote on the reorganization during a special meeting scheduled for May 9. If approved, the transition is expected to be completed by mid-May, pending final approval from the Toronto Stock Exchange (TSX), where Galaxy is currently listed. After the reorganization, Galaxy Digital Inc. will maintain a dual listing on both the TSX and Nasdaq under the ticker symbol GLXY.
Novogratz Highlights Galaxy’s Move to Scale in U.S. Markets
CEO Mike Novogratz recognized the development as a major achievement for the company. The decision fits within Galaxy’s approach for building its digital asset services infrastructure and AI capabilities across U.S. markets subject to regulation. Galaxy continues its strategic progression by moving toward a pivotal position that enables the company to serve expanding U.S. digital asset markets.
Big milestone for @GalaxyHQ! Our registration statement is now effective with the SEC. We’re on track to list on Nasdaq shortly after our shareholder vote on May 9, contingent on completing our reorganization. Let’s go! https://t.co/bbIgQNnMxH
— Mike Novogratz (@novogratz) April 7, 2025
Galaxy Digital is one of the many crypto firms seeking to list on U.S. exchanges, either through direct listings or initial public offerings (IPOs). However, The regulatory process became more challenging for companies seeking foreign expansion during the Biden administration. Despite these challenges, more crypto firms, including Galaxy, are planning to go public. However, the market’s volatility, partly fueled by economic uncertainties linked to former President Donald Trump’s tariff policies, is slowing the IPO market
Shareholders will vote under the supervision of TMX Investor Solutions Inc. for an efficient completion of the reorganization. Documents containing details related to the reorganization, its reasoning, and voting process information will be distributed to shareholders. Galaxy Digital expands operations across North America, Europe, and Asia through its substantial investments in high-performance computing infrastructure along with its institutional services covering trading asset management and tokenization.
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