NEW YORK, Sept. 1, 2020 /CNW/ - Michael Novogratz, Founder and CEO of Galaxy
Digital Holdings Ltd. (TSX: GLXY) ("Galaxy Digital" or the
"Company"), today reported that an entity that he
beneficially owns, Novofam Macro LLC, donated 5,000,000 ordinary
shares of the Company (the "Ordinary Shares") on
September 1, 2020, having a value of
C$23,800,000 (the "September
Donation"). The September Donation represented approximately
1.8% of the issued and outstanding Ordinary Shares as of
September 1, 2020 (the "Ordinary
Shares") (assuming conversion of the GDH B Units (defined
below) beneficially held by Mr. Novogratz). This donation was in
addition to a donation made on August 17,
2020 of 5,000,000 Ordinary Shares having a value of
C$18,800,000 (together with the
September Donation, the "Donation"). The Donation represents
approximately 3.6% of the Ordinary Shares (assuming conversion of
the GDH B Units (defined below) beneficially held by Mr. Novogratz)
as of September 1, 2020.
![Galaxy Digital Holdings Ltd. Logo (CNW Group/Galaxy Digital Holdings Ltd.) Galaxy Digital Holdings Ltd. Logo (CNW Group/Galaxy Digital Holdings Ltd.)](https://mma.prnewswire.com/media/1247531/Galaxy_Digital_Holdings_Ltd__Michael_Novogratz_Donates_Ordinary.jpg)
Prior to the Donation, Mr. Novogratz beneficially owned
213,696,000 Class B limited partnership units ("GDH B
Units") of Galaxy Digital Holdings LP ("GDH LP") and
10,522,945 Ordinary Shares, which represented approximately 80.5%
of the issued and outstanding Ordinary Shares on September 1, 2020 (assuming conversion of the GDH
B Units beneficially held by Mr. Novogratz). Each GDH B Unit is,
pursuant to the terms of the GDH LP Fourth Amended and Restated
Limited Partnership Agreement, and subject to certain limitations,
exchangeable for Ordinary Shares on a one-for-one basis subject to
customary adjustments for stock splits, stock dividends and
reclassifications and other similar transactions. Following the
Donation, Mr. Novogratz owns and controls, directly or indirectly,
on a fully converted basis, 214,218,945 Ordinary Shares,
representing approximately 76.9% of the issued and outstanding
Ordinary Shares on September 1, 2020
(assuming conversion of the GDH B Units beneficially held by Mr.
Novogratz).
Michael Novogratz contributed the
Donation to a donor advised fund. The Donation will be used to fund
criminal justice and non-profit projects driving towards systemic
change. The Donation is a disposition by gift for no consideration
and has been, or will be, reported on the System for Electronic
Disclosure by Insiders (SEDI), as applicable.
Mr. Novogratz may from time to time acquire additional
securities, dispose of some or all of the existing or additional
securities or may continue to hold the securities of the Company.
For further information, please see the Company's profile on SEDAR
at www.sedar.com. A copy of the early warning report in respect of
the Donation can be obtained from Michael
Novogratz through the Company's Investor Relations
department at 212-390-9216. The Company's headquarters is
located at 107 Grand Street, New York,
New York, 10013, USA.
About Galaxy Digital
Galaxy Digital is a diversified, multi-service merchant bank
dedicated to the digital assets and blockchain technology
industry. Galaxy Digital's team has extensive experience
spanning investing, portfolio management, capital markets,
operations, asset management, and blockchain technology.
Galaxy Digital currently operates four distinct business lines,
which include: Trading, Asset Management, Principal Investments and
Investment Banking. Galaxy Digital's CEO and Founder is
Michael Novogratz. The Company
is headquartered in New York City,
with offices in London,
Tokyo, Hong Kong, the Cayman Islands (registered office) and New
Jersey. Additional information about the Company's businesses
and products is available on www.galaxydigital.io.
Forward-Looking Statements
Certain information in this press release, including, but not
limited to, statements regarding Mr. Novogratz' future plans, may
constitute forward looking information (collectively,
forward-looking statements), which can be identified by the use of
terms such as "may," "will," "should," "expect," "anticipate,"
"project," "estimate," "intend," "continue" or "believe" (or the
negatives) or other similar variations. Because of various risks
and uncertainties, including those referenced below, actual events
or results may differ materially from those reflected or
contemplated in such forward-looking statements. As a result, you
should not place undue reliance on such forward-looking statements.
Additional information identifying assumptions, risks and
uncertainties relating to Galaxy Digital is contained in Galaxy
Digital's filings with the Canadian securities regulators available
at www.sedar.com. These risks include those discussed in the risks
and uncertainties section in the Company's Annual Information Form
for the year ended December 31, 2019.
The forward-looking statements in this press release are applicable
only as of the date of this release or as of the date specified in
the relevant forward-looking statement.
SOURCE Galaxy Digital Holdings Ltd.