The 12-month buyback authorization comes as Galaxy’s shares and other crypto-linked stocks have declined alongside Bitcoin.
Galaxy Digital Inc. (Nasdaq: GLXY) has authorized a share repurchase program of up to $200 million, allowing the company to buy back its Class A common stock over the next 12 months.
According to a company announcement, the repurchases may be conducted on the open market or through privately negotiated transactions, including under Rule 10b5-1 trading plans, and remain subject to applicable securities laws and exchange rules. The program does not obligate Galaxy to repurchase any shares and may be suspended or discontinued at any time.
The buyback program has a term of 12 months and, if conducted on the Toronto Stock Exchange, remains subject to regulatory approval under a normal course issuer bid. Purchases made on Nasdaq would be capped at 5% of Galaxy’s outstanding shares at the start of the program, according to the announcement.
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