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Galaxy Digital Inc (NASDAQ:GLXY) shares are trading higher on Monday. The company announced a strategic investment from a leading asset management firm.
What Happened: Galaxy said it entered into agreements with one of the world’s largest and most respected asset managers for a $460 million private investment through the purchase of approximately 9.03 million shares of its common stock and 3.75 million shares from Galaxy Digital executives.
The Galaxy common stock will be purchased by the asset manager for $36 per share. Galaxy intends to use the proceeds from the investment to power the buildout of its Helios data center campus, which remains on schedule to deliver 133 MW of critical IT load in the first half of 2026.
“Strengthening our balance sheet is essential to scaling Galaxy’s data center business efficiently while maintaining the financial flexibility to support future growth,” said Mike Novogratz, founder and CEO of Galaxy.
“Having one of the world’s largest and most sophisticated institutional investors make such a significant investment in our company will support our strategic vision and our ability to build leading businesses across digital assets and data centers.”
The investment is expected to close on or about Oct. 17.
Galaxy also scheduled its third-quarter financial results for Oct. 21. Analysts expect the company to report earnings of 14 cents per share and revenue of $14.4 billion, according estimates from Benzinga Pro. The company will hold a conference call at 8:30 a.m. ET that day to discuss the quarter.
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Galaxy Digital's case, it is in the Financials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
GLXY Price Action: Galaxy Digital shares were up 1.35% at $39.91 at the time of publication Monday, according to Benzinga Pro.
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Posted In: GLXY
