Transactions

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Overview

Galaxy Digital Completes Arrangement Transaction and $305 Million Offering

July 31, 2018

Bradmer Pharmaceuticals Inc. (TSX VENTURE: BMR.H) (“Bradmer”), has completed all of the steps of an arrangement transaction (the “Arrangement”) that included Bradmer, Galaxy Digital LP and First Coin Capital Corp. In connection with the Arrangement, Bradmer also completed a private placement (the “Offering”) of subscription receipts for aggregate gross proceeds of approximately $305 million. The net proceeds of the Offering will be used by Bradmer to acquire a minority equity interest in a Galaxy Digital operating partnership (“Galaxy LP”) that will begin trading on the TSXV on August 1, 2018 under the symbol "GLXY". Galaxy LP will focus on building an institutional merchant banking business in the digital asset, cryptocurrency and blockchain sectors. The Galaxy LP will be led by Michael Novogratz and the team at Galaxy Digital GP LLC.  

GMP Securities L.P. (“GMP”) acted as sole agent in respect of the Offering.  

Wildeboer Dellelce LLP acted for the Bradmer in connection with the Arrangement and for GMP in connection with the Offering with a team that included Perry Dellelce, James Brown, Geoffrey Cher, Julie Anderson, Danny Kharazmi, Davia Wang and Joel Fraser (corporate/securities) and Katy Pitch (Tax).