After Galaxy Digital announced the issuance of $1 billion Convertible Bonds, its stock price experienced a big dump.

PANews, October 28 news, according to Bloomberg, the operating partnership of Galaxy Digital Inc. announced a $1 billion issuance of Convertible Bonds, after which its after-hours stock price experienced a big dump. Sources revealed that Galaxy Digital Holdings LP is issuing bonds with a maturity of 5.5 years, which can be converted into common stock of Galaxy Digital, with a coupon interest rate ranging from 0.5% to 1%. On Monday after hours, influenced by the bond issuance news, as of 5:43 PM local time, the company's stock price in the U.S. fell by 10.3%, reaching $36.45 per share. However, before the close on Monday, its stock price had risen 134% in the New York market. An earlier statement indicated that these bonds will mature in 2031. The statement noted that the bond issuer plans to use the net proceeds from this bond issuance to support the growth of core operating business and may be used to repay existing exchangeable preferred notes maturing in 2026.