Dominari Holdings Provides Update on Share Repurchase Program

Rhea-AI Summary

Dominari Holdings Inc. (NASDAQ: DOMH) announced an update on its $2 million share repurchase program initiated by its Board on December 5, 2022. As of January 25, 2023, the Company repurchased 4,900 shares at $4.0156 each, reflecting its confidence in the undervaluation of its stock. CEO Anthony Hayes emphasized that these buybacks are intended to enhance shareholder value. Future repurchases will depend on market conditions and regulatory constraints. Dominari continues to transition from a focus on therapeutics to fintech and financial services, aiming to strengthen its market position.

Positive

• Completed repurchase of 4,900 shares at $4.0156, reinforcing commitment to shareholder value.
• CEO states belief in the stock's undervaluation, suggesting potential for future growth.
• Transition to fintech services may diversify revenue streams and enhance investor confidence.

Negative

• None.

NEW YORK, Jan. 26, 2023 /PRNewswire/ -- Dominari Holdings Inc. (Nasdaq: DOMH) ("Dominari" or the "Company") today provided an update on the $2 million share repurchase program (the "Share Repurchase Program") authorized by the Company's Board of Directors on December 5, 2022.

The Company reported that on January 25, 2023, the Company purchased 4,900 shares of common stock at $4.0156 per share.

Anthony Hayes, CEO of Dominari, stated, "The company continues to believe in our path forward. Furthermore, we believe the company's stock remains undervalued, and the continued buybacks are a way to augment shareholder value."

Additional shares may be repurchased from time to time in open market transactions, or other means in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Rule 10b -18 of the Exchange Act. The timing, number of shares repurchased, and prices paid for the stock under this program will depend on general business and market conditions as well as corporate and regulatory limitations, including blackout period restrictions.

About Dominari Holdings Inc.

Dominari Holdings Inc. (f/k/a Aikido Pharma Inc.) until recently was focused primarily on the development of a diverse portfolio of small-molecule anticancer and antiviral therapeutics and related patent technology. In September 2022, the Company agreed to acquire a registered broker-dealer and transition its primary business operations to fintech and financial services. Upon the final closing of this acquisition, the Company's fintech and financial services business will be operated through its subsidiary, Dominari Financial Inc. The Company continues to develop its therapeutics and related patent technology, as well as other ventures, through its subsidiary, Aikido Labs, LLC. 

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Investor Relations:

     Hayden IR
     Brett Maas, Managing Partner     
     Phone: (646) 536-7331
     Email: brett@haydenir.com
     www.haydenir.com

Dominari Holdings Inc. (f/k/a Aikido Pharma Inc):

     Phone: 212-745-1373
     Email: investorrelations@aikidopharma.com
     www.aikidopharma.com

 

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SOURCE Dominari Holdings Inc.

FAQ

What is the share repurchase program by Dominari Holdings?

Dominari Holdings has a $2 million share repurchase program authorized on December 5, 2022, aimed at enhancing shareholder value.

When did Dominari Holdings make its recent share repurchase?

On January 25, 2023, Dominari Holdings repurchased 4,900 shares at $4.0156 each.

Why is Dominari Holdings conducting share buybacks?

The buybacks are intended to augment shareholder value and reflect the company's belief that its stock is undervalued.

What is the future outlook for Dominari Holdings after the buyback?

The company aims to transition to fintech and financial services, which may create new growth opportunities.

How will future buybacks be determined?

Future repurchases by Dominari may rely on market conditions, general business conditions, and regulatory limitations.