Galaxy Digital Gets SEC Green Light: Nasdaq Listing Just Weeks Away!

Galaxy Digital Gets SEC Green Light: Is a Nasdaq Launch the Next Big Crypto Milestone?

In order to float on the Nasdaq stock exchange, the US Securities and Exchange Commission has approved Galaxy Digital, an artificial intelligence and cryptocurrency investing firm. Galaxy announced on April 7 that, subject to shareholder and TSX approval, the Toronto Stock Exchange (TSX)-listed business intends to move its home base from the Cayman Islands to Delaware.

Our registration statement is now effective with the SEC. We’re on track to list on the Nasdaq shortly after our shareholder vote on May 9, contingent on completing our reorganization. Let’s go!

Galaxy CEO Michael Novogratz

Galaxy’s Nasdaq Listing Plans and the Power Shift Post-Move to Delaware

Following the vote, Galaxy plans to list on the Nasdaq with the ticker code GLXY. If all conditions are met, the transition should be finished by mid-May. Galaxy stated that it decided to relocate to Delaware because it would offer a favorable business climate that would enable it to compete more successfully with other publicly traded firms in SEC Form S-4, which was initially filed on March 27.

Delaware is a preferred domicile for many publicly traded firms, which is why the firm chose it. Delaware also has a large body of case law to interpret the Delaware General Corporation Law (DGCL), and legislators update DGCL frequently to reflect new developments in the law and technology. According to the document, Novogratz will continue to have approximately 60% of the voting power in the corporation following the adjustment.

• According to Google Finance, Galaxy Digital‘s TSX share price was down 8% after the bell, trading at $12.30 Canadian dollars ($8.70).
• The stock peaked on November 12, 2021, at just under $50 Canadian dollars ($35), having been launched for the first time in July 2015.

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