Galaxy Digital Holdings has officially received approval from the U.S. Securities and Exchange Commission (SEC) to proceed with its reorganization plans, clearing the way for the company to list its shares on the prestigious Nasdaq Stock Exchange.
This significant milestone was announced on Monday and represents a pivotal step in the company’s long-standing ambition to expand its footprint in the U.S. market.
A Key Milestone for Galaxy Digital
According to the information, Galaxy Digital revealed that its registration statement with the SEC had been approved, marking a crucial regulatory step in the company’s plan. The approval paves the way for a major reorganization that will see Galaxy Digital move its corporate structure from the Cayman Islands to Delaware. Additionally, a new parent company called New Pubco will be established to oversee the transition.
Mike Novogratz, CEO and Founder of Galaxy Digital, expressed his optimism about the reorganization and its potential to drive the company’s growth. “We’re pleased to announce the effectiveness of our registration statement with the SEC. 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,” said Novogratz. “We look forward to completing the transaction this quarter.”
Key Steps Ahead: Shareholder Vote and Nasdaq Listing
With SEC approval now in place, Galaxy Digital is set to hold a special shareholder meeting on May 9, where investors will vote on the proposed reorganization. One of the key elements of this transition is moving the company’s listing from the Toronto Stock Exchange (TSX) to the Nasdaq Stock Exchange. The company is also awaiting approval from the TSX for this move.
Galaxy Digital expects the reorganization to be completed by mid-May 2025, pending the necessary approvals. Once finalized, the company plans to list its Class A common stock on the Nasdaq under the ticker symbol “GLXY.” However, New Pubco will continue to be listed on the Toronto Stock Exchange for a period following the reorganization.
The Road to Growth and Innovation
Galaxy Digital’s reorganization and Nasdaq listing are set to enhance its visibility in the digital asset and blockchain space, particularly in the U.S. market. By strengthening its presence on one of the world’s largest and most prestigious stock exchanges, the company aims to propel its growth in digital assets and artificial intelligence infrastructure, which have been core areas of focus for Galaxy Digital in recent years.
The reorganization process, while significant, marks just the beginning of what could be a transformative phase for Galaxy Digital as it moves to the next level of its business operations.
Author
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
