Dominari Holdings Provides Update on Share Repurchase Program

Rhea-AI Summary

Dominari Holdings Inc. (Nasdaq: DOMH) announced an update regarding its $2 million share repurchase program authorized on December 5, 2022. On February 1, 2023, the company repurchased 4,701 shares at an average price of $3.8211 per share. The company plans to continue repurchasing shares based on market conditions and regulatory requirements. Following a strategic shift from developing therapeutics to fintech operations, the company remains committed to its subsidiary, Aikido Labs, LLC, while enhancing shareholder value through this buyback program.

Positive

• Share repurchase program valued at $2 million enhances shareholder value.
• Purchase of 4,701 shares at $3.8211 per share signals management's confidence.

Negative

• None.

NEW YORK, Feb. 2, 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 February 1, 2023, the Company purchased 4,701 shares of common stock at $3.8211 per share.

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 purpose of Dominari Holdings' share repurchase program?

The purpose of the share repurchase program is to enhance shareholder value and indicate management's confidence in the company.

How many shares did Dominari Holdings buy back recently?

On February 1, 2023, Dominari Holdings bought back 4,701 shares.

What was the average price per share for the recent buyback by Dominari Holdings?

The average price per share for the buyback was $3.8211.

When was the share repurchase program authorized for Dominari Holdings?

The share repurchase program was authorized by the Board of Directors on December 5, 2022.