NEW YORK, Dec. 31, 2021 /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, Galaxy Group Investments LLC, donated 8,600,000
Class B limited partnership units (the "Partnership Units")
of Galaxy Digital Holdings LP ("GDH LP") on December 31, 2021 having a value of approximately
C$202.1 million (or approximately
US$159 million) using the closing
price of the Ordinary Shares (as defined below) on December 30, 2021 (the "Donation"). Each
Partnership 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 of the
Company on a one-for-one basis subject to customary adjustments for
stock splits, stock dividends and reclassifications and other
similar transactions. The Donation represented approximately
2.73% of the issued and outstanding ordinary shares as of
December 31, 2021 (the "Ordinary
Shares") (assuming conversion of the Partnership Units
beneficially held by Mr. Novogratz).
Prior to the Donation, Mr. Novogratz beneficially owned
213,696,000 Partnership Units and 522,945 ordinary shares, which
represented approximately 67.95% of the issued and outstanding
ordinary shares on December 31, 2021
(assuming conversion of the Partnership Units beneficially held by
Mr. Novogratz). Following the Donation, Mr. Novogratz owns
and controls, directly or indirectly, on a fully converted basis,
205,618,945 ordinary shares, representing approximately 65.22% of
the issued and outstanding Ordinary Shares on December 31, 2021 (assuming conversion of the GDH
B Units beneficially held by Mr. Novogratz).
Michael Novogratz contributed the
Donation to a donor advised fund. Among other things, 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 investor.relations@galaxydigital.io. The Company's
headquarters is located at 300 Vesey Street, New York, New York, 10282, USA.
About Galaxy Digital
Galaxy Digital (TSX: GLXY) is a technology-driven financial
services and investment management firm that provides institutions
and direct clients with a full suite of financial solutions
spanning the digital assets ecosystem. Galaxy Digital operates in
the following businesses: Trading, Asset Management, Principal
Investments, Investment Banking, and Mining. Galaxy Digital's CEO
and Founder is Mike Novogratz. The
Company is headquartered in New York
City, with offices in Chicago, San
Francisco, London,
Amsterdam, 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, 2020.
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.