X0202 SCHEDULE 13G 0001582090 XXXXXXXX LIVE Class A common stock, par value $0.00001 per share 07/20/2026 0002007691 Ionic Digital Inc. 462210105 650 Massachusetts Avenue NW, 6th Floor Washington DC 20001 Rule 13d-1(c) Sachem Head Capital Management LP a DE 0.00 3169808.00 0.00 3169808.00 3169808.00 N 6.9 IA The number of shares reported includes 2,264,150 shares of Class A Common Stock held directly by the Sachem Head Funds (defined below), which shares were issued upon the automatic conversion of the Issuer's Series A Convertible Preferred Stock in connection with the Issuer's direct listing, and 905,658 shares of Class A Common Stock issuable upon exercise of warrants held by the Sachem Head Funds (the "Warrants"). Pursuant to the terms of the Warrants, the Sachem Head Funds are prohibited from exercising the Warrants to the extent such exercise would result in Sachem Head (defined below) beneficially owning, together with its Affiliates and any "group" members for purposes of Section 13(d) of the Exchange Act, in excess of 9.99% of the outstanding Class A Common Stock (the "Ownership Limitation"). As of the date hereof, no shares of Class A Common Stock issuable upon exercise of the Warrants are excluded from the number of shares reported by reason of the Ownership Limitation. Uncas GP LLC a DE 0.00 3169808.00 0.00 3169808.00 3169808.00 N 6.9 OO The number of shares reported includes 2,264,150 shares of Class A Common Stock held directly by the Sachem Head Funds, which shares were issued upon the automatic conversion of the Issuer's Series A Convertible Preferred Stock in connection with the Issuer's direct listing, and 905,658 shares of Class A Common Stock issuable upon exercise of the Warrants. Pursuant to the terms of the Warrants, the Sachem Head Funds are prohibited from exercising the Warrants to the extent such exercise would result in Sachem Head beneficially owning, together with its Affiliates and any "group" members for purposes of Section 13(d) of the Exchange Act, in excess of the Ownership Limitation. As of the date hereof, no shares of Class A Common Stock issuable upon exercise of the Warrants are excluded from the number of shares reported by reason of the Ownership Limitation. Sachem Head GP LLC a DE 0.00 2233400.00 0.00 2233400.00 2233400.00 N 4.9 OO The number of shares reported includes 1,595,300 shares of Class A Common Stock held directly by SH (as defined below) and SHM (as defined below), which shares were issued upon the automatic conversion of the Issuer's Series A Convertible Preferred Stock in connection with the Issuer's direct listing, and 638,100 shares of Class A Common Stock issuable upon exercise of the Warrants held by SH and SHM. Pursuant to the terms of the Warrants, the holders are prohibited from exercising the Warrants to the extent such exercise would result in Sachem Head beneficially owning, together with its Affiliates and any "group" members for purposes of Section 13(d) of the Exchange Act, in excess of the Ownership Limitation. As of the date hereof, no shares of Class A Common Stock issuable upon exercise of the Warrants are excluded from the number of shares reported by reason of the Ownership Limitation. Scott D. Ferguson a X1 0.00 3169808.00 0.00 3169808.00 3169808.00 N 6.9 IN The number of shares reported includes 2,264,150 shares of Class A Common Stock held directly by the Sachem Head Funds, which shares were issued upon the automatic conversion of the Issuer's Series A Convertible Preferred Stock in connection with the Issuer's direct listing, and 905,658 shares of Class A Common Stock issuable upon exercise of the Warrants. Pursuant to the terms of the Warrants, the Sachem Head Funds are prohibited from exercising the Warrants to the extent such exercise would result in Sachem Head beneficially owning, together with its Affiliates and any "group" members for purposes of Section 13(d) of the Exchange Act, in excess of the Ownership Limitation. As of the date hereof, no shares of Class A Common Stock issuable upon exercise of the Warrants are excluded from the number of shares reported by reason of the Ownership Limitation. Ionic Digital Inc. 650 Massachusetts Avenue NW, 6th Floor, Washington, District of Columbia 20001 This statement is filed by: (i) Sachem Head Capital Management LP, a Delaware limited partnership ("Sachem Head"); (ii) Uncas GP LLC, a Delaware limited liability company ("SH Management"); (iii) Sachem Head GP LLC, a Delaware limited liability company ("Sachem Head GP"); and (iv) Scott D. Ferguson, a citizen of the United States of America ("Mr. Ferguson"). The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." Sachem Head serves as investment advisor to certain affiliated funds, including Sachem Head LP, a Delaware limited partnership ("SH"), Sachem Head Master LP, an exempted limited partnership organized under the laws of the Cayman Islands ("SHM"), and SH Stony Creek Master Ltd., an exempted company incorporated under the laws of the Cayman Islands ("Stony Creek", and, together with SH and SHM, the "Sachem Head Funds"), and as such may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) all of the shares of Class A Common Stock (as defined in Item 2(d) below) held by SH, SHM and Stony Creek. SH Management serves as the sole general partner of Sachem Head, and as such may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) all of the shares of Class A Common Stock reported herein. Sachem Head GP serves as the general partner of certain affiliated funds, including SH and SHM, and as such may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) all of the shares of Class A Common Stock held by SH and SHM. Mr. Ferguson serves as the managing partner of Sachem Head and the managing member of SH Management and Sachem Head GP, and as such may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) all of the shares of Class A Common Stock reported herein. The filing of this statement should not be construed as an admission that any of the Reporting Persons is, for the purposes of Section 13 of the Act, the beneficial owner of the Class A Common Stock reported herein. The address of the business office of each of the Reporting Persons is 250 West 55th Street, 34th Floor, New York, New York 10019. Sachem Head is a Delaware limited partnership. Each of SH Management and Sachem Head GP is a Delaware limited liability company. Mr. Ferguson is a citizen of the United States. Y The information required by Item 4(a) is set forth in Row 9 of the cover page for the Reporting Person and is incorporated herein by reference. The information required by Items 4(a) - (c) is set forth in Rows (5) - (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. The percentages used herein are calculated based upon (i) 44,921,427 shares of Class A Common Stock outstanding immediately following the automatic conversion of the Issuer's Series A Convertible Preferred Stock (the "Series A Preferred Stock") upon the Issuer's direct listing, consisting of 37,374,261 shares of Class A Common Stock outstanding prior to the listing and 7,547,166 shares issued upon such conversion, in each case as reported in the Issuer's Registration Statement on Form S-1, as amended, plus (ii) with respect to the applicable Reporting Persons, the shares of Class A Common Stock issuable upon exercise of the Warrants held by such Reporting Person's applicable funds (905,658 shares in the case of Sachem Head, SH Management and Mr. Ferguson, and 638,100 shares in the case of Sachem Head GP), in accordance with Rule 13d-3(d)(1)(i). See response to Item 11 on the cover page for each Reporting Person. The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for the Reporting Person and is incorporated herein by reference. The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for the Reporting Person and is incorporated herein by reference. The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for the Reporting Person and is incorporated herein by reference. The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for the Reporting Person and is incorporated herein by reference. Y N See Item 2(a). Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. Exhibit 99 - Joint Filing Agreement Sachem Head Capital Management LP /s/ Scott D. Ferguson 07/24/2026 Uncas GP LLC /s/ Scott D. Ferguson 07/24/2026 Sachem Head GP LLC /s/ Scott D. Ferguson 07/24/2026 Scott D. Ferguson /s/ Scott D. Ferguson 07/24/2026