Overview
- An unnamed major asset manager agreed to invest $460 million in a private deal priced at $36 per share.
- Galaxy will issue 9,027,778 new Class A shares while executives, including CEO Mike Novogratz, will sell 3,750,000 existing shares.
- The placement carries an approximately 8.5% discount to the prior close and is expected to finalize on or about October 17 pending Toronto Stock Exchange approval.
- Proceeds will support the Helios data center buildout, with Phase One targeting 133 megawatts of critical IT load in the first half of 2026 under existing commitments.
- CoreWeave has committed to all 800 megawatts of approved power capacity at Helios, and Galaxy shares rose about 3% in post‑market trading after the announcement.