Galaxy Digital completed a $3.507 billion private offering of 9.875% senior secured notes due 2031, issued at 99.500% to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S, with Morgan Stanley acting as representative of the initial purchasers. The company entered into an indenture governing the notes, which include customary covenants, redemption features and repurchase provisions. Net proceeds will finance construction of two buildings containing eight data halls with 400 MW of utility capacity (260 MW critical IT) in Dickens County, Texas, and fund debt service reserves. In support of execution, Galaxy Digital Holdings LP provided an uncapped completion guarantee to the project landlord to ensure on-time delivery under the CoreWeave lease.
Agreement 1: Galaxy Digital Completes $3.507B 9.875% Senior Secured Notes Due 2031 to Fund Texas Data Center
- Agreement type: Indenture for 9.875% Senior Secured Notes due 2031
- Counterparty: Bank of New York Mellon
- Signed / Effective: Jul 28 2026 / Jul 28 2026
- Duration / Termination: Until Aug 1 2031
- Reason: Finance Dickens County data center project and reserves
Agreement 2: Galaxy Digital Sells $3.507B of 9.875% Notes via 144A/Reg S Led by Morgan Stanley
- Agreement type: Purchase agreement for $3.507B 9.875% senior secured notes
- Counterparty: Morgan Stanley
- Signed / Effective: Jul 23 2026 / Jul 28 2026
- Reason: Finance Dickens County data center project and reserves
Agreement 3: Galaxy Digital Adds Uncapped Completion Guarantee to Back Texas Data Center Build
- Agreement type: Uncapped completion guarantee for Texas data center project
- Counterparty: Data Center Landlord
- Signed / Effective: Jul 28 2026 / Jul 28 2026
- Duration / Termination: Until project phases reach rent commencement
- Reason: Ensure delivery of leased data halls to CoreWeave
Original SEC Filing:
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.