Galaxy Digital Gains SEC Approval for Nasdaq Listing and Reorganization

Galaxy Digital Holdings has officially received approval from the U.S. Securities and Exchange Commission (SEC) to proceed with its reorganization plans

Galaxy Digital has received approval from the U.S. Securities and Exchange Commission (SEC) for its plans to list on the Nasdaq Stock Exchange and reorganize its corporate structure.

The development was announced by the company on Monday.

According to the information, Galaxy Digital's registration statement with the SEC has now been approved. This step is part of the company's plan to move its corporate structure from the Cayman Islands to Delaware. A new parent company called New Pubco will also be established as part of the transition.

"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. We're grateful for the dedication of our team who have worked diligently to reach this point, and we look forward to completing the transaction this quarter," said Mike Novogratz, CEO and Founder of Galaxy Digital.

Galaxy Digital Holdings is planning to hold a special shareholder meeting on May 9 to vote on the proposed reorganization and listing on the Nasdaq Stock Exchange. The company's shares are currently listed on the Toronto Stock Exchange (TSX).

According to the statement, one of the key elements of this transition is moving Galaxy Digital's listing from the TSX to the Nasdaq Stock Exchange. The company is still awaiting approval from the TSX for this move.

According to the reports, Galaxy Digital anticipates that the reorganization will 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.

This move will enhance Galaxy Digital's 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.