Galaxy Digital Clears SEC Hurdle for Nasdaq Listing

Galaxy Digital Holdings Ltd. has announced that the U.S. Securities and Exchange Commission (SEC) has declared effective its registration statement (Form S-4). This statement is related to the company's previously announced reorganization and domestication from the Cayman Islands to Delaware, as well as the proposed listing on Nasdaq of the A Class common stock of Galaxy Digital Inc., the company's new Delaware holding company.

The effectiveness of the registration statement is a crucial step in the process of listing on a major stock exchange. It indicates that the SEC has reviewed and approved the company's financial statements, business operations, and other relevant information, ensuring that it meets the necessary regulatory requirements. With this approval, Galaxy Digital can now focus on the next steps, including mailing the Management Information Circular/prospectus to shareholders and preparing for the shareholder vote scheduled for May 9, 2025.

The shareholder vote is a critical component of the listing process, as it allows shareholders to approve the proposed listing and other related matters. The outcome of this vote will determine whether Galaxy Digital can proceed with its plans to list on the Nasdaq. If approved, the company will become one of the few digital asset and blockchain technology companies to be publicly traded on a major U.S. stock exchange, providing investors with an opportunity to gain exposure to the growing digital asset market.

The listing on the Nasdaq is expected to bring several benefits to Galaxy Digital, including increased visibility, access to a broader investor base, and enhanced liquidity. It will also provide the company with a platform to raise capital for future growth and expansion, as well as to attract and retain top talent in the competitive digital asset and blockchain technology industry. The listing is also expected to validate the company's business model and strategic vision, further solidifying its position as a leader in the digital asset and blockchain technology space.

In summary, Galaxy Digital's announcement that its registration statement has become effective is a significant development for the company and the digital asset industry as a whole. The approval by the SEC marks a major step towards the company's listing on the Nasdaq, which is expected to bring numerous benefits and opportunities for growth and expansion. The shareholder vote scheduled for May 9, 2025, will be a critical determinant of whether the company can proceed with its plans to go public, and the outcome of this vote will be closely watched by investors and industry observers alike.