By Robb M. Stewart

Galaxy Digital's shares fell sharply Tuesday after the digital asset and blockchain company moved to raise roughly $125 million via a bought deal public stock offering.

In morning trading, the shares were 17% lower at C$13.29, narrowing the year-to-date advance to 28%.

Galaxy, which has earmarked the proceeds for working capital and general corporate purposes, said it will sell 2.35 million of its shares at 14 Canadian dollars ($10.31) each to underwriter Canaccord Genuity.

The offering is set to close on or about Friday, Galaxy said.

Write to Robb M. Stewart at

(END) Dow Jones Newswires

04-09-24 1115ET