Galaxy Digital Inc. Announces Pricing of $3.507 Billion of Senior Secured Notes
Rhea-AI Summary
Galaxy Digital (NASDAQ: GLXY) announced that indirect subsidiary Galaxy Helios Data Centers II LLC has priced a $3.507 billion private offering of 9.875% senior secured notes due 2031. Closing is expected on July 28, 2026, subject to market and other conditions.
According to Galaxy, net proceeds are intended to fund part of a Dickens County, Texas data center project comprising two buildings with eight data halls, totaling 400 MW of utility capacity and 260 MW of critical IT capacity, and to fund debt service reserves.
Positive
- $3.507 billion senior secured notes priced, targeting long-term project financing
- Proceeds earmarked for 400 MW utility and 260 MW IT capacity build-out in Texas
- Notes mature in 2031 with 4% annual amortization, adding structured repayment profile
Negative
- Notes carry a relatively high 9.875% annual cash interest cost
- Debt is senior secured with first-priority liens on substantially all Issuer and Guarantor assets
- Offering completion remains subject to market and other conditions, with no assurance of closing
News Explained
If completed, Galaxy’s subsidiary would add 9.875% secured debt due in 2031, with cash interest and later amortization.
The notes have been priced, but the offering remains subject to market and other conditions and is expected to close on
The notes would be guaranteed by wholly owned Galaxy Helios II LLC and secured by first-priority liens on substantially all assets of the issuer and guarantor, plus the issuer’s equity interests held by its direct parent.
On the supplied quarterly basis, the offering gross amount equals
If completed, the first semiannual cash-interest payment is scheduled for
Sources and calculations
- Galaxy Digital Announces Pricing of $3.507 Billion of Senior Secured Notes (2026-07-23)
- Galaxy Digital 2026 first-quarter fundamentals (2026Q1)
- Offering gross vs quarterly operating cash outflow, in days of cash use $3,507,000,000 / ($83,349,000 / 90) = [object Object]
- Cash and equivalents vs quarterly operating cash outflow, in days of cash use $910,691,000 / ($83,349,000 / 90) = [object Object]
Market reaction after 2031 senior notes offering: GLXY -6.74% in the Jul 24 session
In the Jul 24 session, GLXY declined 6.74%, reflecting a notable negative market reaction. Argus tracked a trough of -5.0% from its starting point during tracking. Our momentum scanner triggered 16 alerts that day, indicating notable trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Crypto Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 15 | Warehouse lending facility | Positive | +1.5% | Expanded institutional lending through a senior secured warehouse facility with Grove. |
| Jun 23 | Strategic platform investment | Positive | -5.3% | Investment in Digital Prime Technologies supported Tokenet's institutional lending platform expansion. |
| Jun 05 | Referral arrangement | Positive | -11.5% | Morgan Stanley referral capability broadened access to Galaxy's crypto lending services. |
| May 05 | Onchain liquidity fund | Positive | +3.9% | State Street and Galaxy launched an onchain cash-management fund for institutional users. |
| Mar 25 | Ethereum insurance launch | Positive | +0.1% | Soter Insure launched Ethereum-denominated slashing insurance developed with Galaxy Digital. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Crypto-tagged events averaged a -2.26% move, with three aligned positive reactions and two divergences.
Key Terms
senior secured notes financial
debt service reserves financial
first-priority liens financial
rule 144a regulatory
regulation s regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
The Issuer intends to use the net proceeds from the Offering to finance a portion of the development and construction of two buildings containing eight data halls with a combined total of 400 megawatts ("MW") of utility capacity and 260 MW of critical IT capacity (the "Project") to be built on an approximately 260-acre property in
The Notes will bear interest at a rate of
The Notes will be fully and unconditionally guaranteed by Galaxy Helios II LLC, a wholly owned direct subsidiary of the Issuer (the "Guarantor"), and will constitute the senior secured obligations of the Issuer and the Guarantor. The Notes and related note guarantee will be secured by first-priority liens on (i) substantially all assets of the Issuer and the Guarantor, other than certain excluded property and (ii) all equity interests of the Issuer held by the direct parent company of the Issuer.
The Offering is subject to market and other conditions, and there can be no assurance as to whether, when or on what terms the Offering may be completed.
The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction, and the Notes may not be offered or sold in
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Galaxy
Galaxy Digital Inc. (Nasdaq: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we develop and operate cutting-edge data center infrastructure to power AI and HPC workloads. Our 1.63 GW Helios campus in Texas positions Galaxy among the largest and fastest-growing data center developers in North America. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia.
Forward Looking Statements
This press release includes forward-looking statements, including statements relating to the completion, size and timing of the Offering, the terms of the Notes and the intended use of proceeds. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements represent the Company's current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including market interest rates, the satisfaction of the closing conditions related to the Offering and risks relating to the Company's business, including those described in periodic reports that the Company files from time to time with the SEC. The Issuer may not consummate the proposed Offering described in this press release and, if the proposed Offering is consummated, cannot provide any assurances regarding the final terms of the Offering or the Notes or its ability to effectively apply the net proceeds as described above. The forward-looking statements included in this press release speak only as of the date of this press release, and the Company does not undertake to update the statements included in this press release for subsequent developments, whether as a result of new information, future events, or otherwise, except as may be required by law.
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SOURCE Galaxy Digital Inc.