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Dilution profile // every instrument, one screen, from SEC filings

Galaxy Digital Inc. (GLXY)

CIK 1859392 · all EDGAR filings →

Overall dilution risk
HIGHworst of 2 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
not every sub-rating was computable; treat as a floor
Offering ability
HIGH$1029M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
one or more live registrations had no structured fee data, so the true total is AT LEAST this
Overhead supply
NOT COMPUTEDno warrant count tagged in XBRL
= warrant shares outstanding divided by current shares outstanding
absence of a tag is not proof of absence of warrants
Historical dilution
NOT COMPUTEDunder 3 years of share history on file
= share count now vs 3 years ago
Cash need
LOW~58.9 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

Fewer than two cover-page share counts on file, so there is no history to chart.

Cash runway

Self-funding

generates cash

Full breakdown: cash runway tool · source filing →

Warrants

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

NotePrincipalCarryingConv. priceRateIf converted
2026 Exchangeable Notes$500.0M—not tagged3%~15.0M sh
2029 Exchangeable Notes$402.5M—not tagged2.5%~16.9M sh

If every note above converted at its tagged price: ~31.9M new shares. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.

Notes exactly as the company dimensioned them in its 10-Q filed Aug 10, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Registrations and offerings

Registered offering capacity on live registrations: $1029.0Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3ASRMay 8, 2026$500.0M registeredfiling →
S-3May 8, 2026fee exhibit found but no total offering amount (fees deferred, typical for automatic shelves)filing →
S-1Oct 20, 2025$529.0M registeredfiling →

Last 12 months: 2 executed · 4 registered.

UPDATEMay 21, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
EFFECTIVEMay 19, 2026SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDMay 8, 2026S-3 registration — capacity to sell shares, not a sale yetS-3 →
REGISTEREDMay 8, 2026Automatic shelf registration — effective immediately (large filers)S-3ASR →
UPDATEMay 8, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEMay 8, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEFeb 26, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEFeb 26, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEJan 15, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEJan 15, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEDec 19, 2025Prospectus update — often a resale registration, not necessarily new capital424B3 →
EFFECTIVEDec 18, 2025SEC declared a registration effective — selling can beginEFFECT →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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