As well reading the quarterly report, I notice they are looking to list on the NASDAQ next year after approval from shareholders and the SEC. Is this going to be a dual listing or are they delisting from the TSX? If delisting what will happen to our holdings-transferred at the current exchange rate or having to sell and repurchase if desired?
Thanks
Jeff
EPS of ($0.394) missed expectations of ($0.191) and revenues of $4.048M missed expectations of $64.012M. Assets under management increased substantially to $3.9B, marking a $1.4B quarter-over-quarter rise. GLXY benefited from increased volatility and trading volumes in October, and it repurchased around 1.2 million in shares in the quarter. The company made progress in its investment banking division, closing 2 deals in the quarter, and its trading division increased in counterparty trading volumes. Net income was negatively impacted by net realized loss on digital assets of $67.6M in the quarter.
GLXY intends to complete its proposed reorganization and domestication to become a Delaware-based company, and list on the Nasdaq. But the SEC has to review this listing, and it is subject to approval by shareholders. At this time, it is unclear how the new share structure will work until the SEC approves the listing and the company begins to move forward.