Galaxy Digital Launches $200 Million, 12-Month Share Buyback Program
Galaxy Digital’s Board approved a 12-month program to repurchase up to $200 million of its Class A common shares through open-market and negotiated transactions. The company may buy stock under Nasdaq limits of 5% outstanding and is seeking TSX approval for a parallel bid.
1. Board Approves $200M Repurchase Program
Galaxy Digital’s Board has authorized a share repurchase program allowing up to $200 million in Class A common stock purchases over the next 12 months. This authorization empowers management to return capital when market prices undervalue the business.
2. Program Structure And Limits
Repurchases may occur via open-market trades or negotiated transactions, including Rule 10b5-1 plans, subject to Nasdaq’s limit of 5% of outstanding shares at program start. Parallel repurchases on the TSX require separate TSX approval.
3. Strategic Rationale And Timing
The buyback underscores confidence in long-term prospects and strong balance sheet, with timing and volume dependent on market conditions, legal requirements and prevailing prices. The program may be suspended or discontinued at any time without obligation to purchase.