Michael Novogratz Donates Partnership Units of Galaxy Digital Holdings LP

NEW YORK, Dec. 31, 2021 /CNW/ - Michael Novogratz, Founder and CEO of Galaxy Digital Holdings Ltd. (TSX: GLXY) ("Galaxy Digital" or the "Company"), today reported that an entity that he beneficially owns, Galaxy Group Investments LLC, donated 8,600,000 Class B limited partnership units (the "Partnership Units") of Galaxy Digital Holdings LP ("GDH LP") on December 31, 2021 having a value of approximately C$202.1 million (or approximately US$159 million) using the closing price of the Ordinary Shares (as defined below) on December 30, 2021 (the "Donation"). Each Partnership Unit is, pursuant to the terms of the GDH LP Fourth Amended and Restated Limited Partnership Agreement, and subject to certain limitations, exchangeable for ordinary shares of the Company on a one-for-one basis subject to customary adjustments for stock splits, stock dividends and reclassifications and other similar transactions.  The Donation represented approximately 2.73% of the issued and outstanding ordinary shares as of December 31, 2021 (the "Ordinary Shares") (assuming conversion of the Partnership Units beneficially held by Mr. Novogratz).

Prior to the Donation, Mr. Novogratz beneficially owned 213,696,000 Partnership Units and 522,945 ordinary shares, which represented approximately 67.95% of the issued and outstanding ordinary shares on December 31, 2021 (assuming conversion of the Partnership Units beneficially held by Mr. Novogratz).  Following the Donation, Mr. Novogratz owns and controls, directly or indirectly, on a fully converted basis, 205,618,945 ordinary shares, representing approximately 65.22% of the issued and outstanding Ordinary Shares on December 31, 2021 (assuming conversion of the GDH B Units beneficially held by Mr. Novogratz).

Michael Novogratz contributed the Donation to a donor advised fund. Among other things, the Donation will be used to fund criminal justice and non-profit projects driving towards systemic change. The Donation is a disposition by gift for no consideration and has been, or will be, reported on the System for Electronic Disclosure by Insiders (SEDI), as applicable.

Mr. Novogratz may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of the Company. For further information, please see the Company's profile on SEDAR at www.sedar.com. A copy of the early warning report in respect of the Donation can be obtained from Michael Novogratz through the Company's Investor Relations department at [email protected]. The Company's headquarters is located at 300 Vesey Street, New York, New York, 10282, USA.

About Galaxy Digital 

Galaxy Digital (TSX: GLXY) is a technology-driven financial services and investment management firm that provides institutions and direct clients with a full suite of financial solutions spanning the digital assets ecosystem. Galaxy Digital operates in the following businesses: Trading, Asset Management, Principal Investments, Investment Banking, and Mining. Galaxy Digital's CEO and Founder is Mike Novogratz. The Company is headquartered in New York City, with offices in Chicago, San Francisco, London, Amsterdam, Tokyo, Hong Kong, the Cayman Islands (registered office), and New Jersey.

Additional information about the Company's businesses and products is available on www.galaxydigital.io.

Forward-Looking Statements

Certain information in this press release, including, but not limited to, statements regarding Mr. Novogratz' future plans, may constitute forward looking information (collectively, forward-looking statements), which can be identified by the use of terms such as "may," "will," "should," "expect," "anticipate," "project," "estimate," "intend," "continue" or "believe" (or the negatives) or other similar variations. Because of various risks and uncertainties, including those referenced below, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. As a result, you should not place undue reliance on such forward-looking statements. Additional information identifying assumptions, risks and uncertainties relating to Galaxy Digital is contained in Galaxy Digital's filings with the Canadian securities regulators available at www.sedar.com. These risks include those discussed in the risks and uncertainties section in the Company's Annual Information Form for the year ended December 31, 2020. The forward-looking statements in this press release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement.

SOURCE Galaxy Digital Holdings Ltd.

Michael Novogratz, 107 Grand Street, New York, New York, 10013, USA; Investors Relations Contacts: Elsa Ballard, [email protected], [phone]; Steven Wald, [email protected], [phone]; Media Relations Contact: Eva Casanova, [email protected], [phone]