Galaxy Digital's Convertible Bond Issuance and Market Impact

According to Foresight News, Bloomberg reports that Galaxy Digital Holdings LP is issuing a 5.5-year convertible bond with an interest rate ranging from 0.5% to 1%. The bond is set to mature in 2031 and can be converted into Galaxy Digital common stock. The company plans to use the net proceeds from the sale to support core business growth and potentially repay existing exchangeable senior notes due in 2026. Following the announcement of the transaction, Galaxy Digital's U.S. stock price fell by 10.3%, closing at $36.45 per share.