ICYMI: Galaxy Digital says it has renegotiated the terms of its BitGo acquisition
Financial services firm Galaxy has renegotiated the terms of its acquisition of crypto custodian BitGo, according to its 2021 financial results.the $1.2 billion deal on May 5. The plan at that time was to make the purchase with $265 million in cash and the rest in 33.8 million newly issued shares of Galaxy Digital. That would have given BitGo shareholders 10% stake in Galaxy Digital.
The deal was expected to close in the fourth quarter of 2021, but the firm revealed today that the terms have been renegotiated. The two still intend to complete the proposed transaction but have extended the deal to the end of the year. "We adjusted the deal some, for progress that BitGo has made," said CEO Mike Novogratz on today's earnings call."They've hired close to 150 people or more than 150 people since we originally signed. And so, it's a bigger and better company. And we'll continue to work on integration side-by-side until we close the deal."
A source with knowledge of the process indicated that the completion of the deal is tied to prospective plans to go public on Nasdaq, which Galaxy highlighted in its press release Thursday. Other companies including Bullish and Circle are facing similar roadblocks on their paths to list in the US, industry sources say.
"As previously announced, the Company intends to complete its proposed reorganization and domestication to become a Delaware-based company, and subsequently list on the Nasdaq, upon completion of ongoing SEC review and subject to stock exchange approval of such listing," Galaxy said Thursday.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Galaxy Digital Tweaks BitGo Purchase Terms as It Awaits SEC Action.BitGo shareholders will now own 12% of GalaxyDigitalHQ after their merger as the companies revise terms of the deal. mikeybellusci reports.
Weiterlesen »
The best Samsung Galaxy Z Flip 3 screen protectors | Digital TrendsKeep your new Z Flip 3's gorgeous 6.7-inch AMOLED screen safe from drops and scratches with our picks of the best Samsung Galaxy Z Flip 3 screen protectors.
Weiterlesen »
T-Mobile unveils some outstanding Samsung Galaxy A53 and Galaxy Tab S8+ 5G launch dealsT-Mobile is finally ready to start selling the 5G-enabled Samsung Galaxy Tab S8+ and Galaxy A53 at $200 and $350 discounts respectively.
Weiterlesen »
Samsung finally reveals the mystery Galaxy A53, A73, A33, A23, and Galaxy A13 processor specsInstead of the '5nm octa-core processor' writeup in the U.S., Samsung India reveals the full Samsung Galaxy A73 5G vs A53 5G vs A33 5G vs A23 vs Galaxy A13 specs list.
Weiterlesen »
Bigger battery tipped for large Samsung Galaxy Watch 5 versionBoth the small and large versions of the Samsung Galaxy Watch 5 will offer enhanced battery capacity and therefore better battery life than the Galaxy Watch 4.
Weiterlesen »
Samsung is working on a Galaxy self-repair program with iFixitSamsung’s self-repair program is starting with older phones.
Weiterlesen »