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 on December 5, 2022. As of February 14, 2023, the company has repurchased 4,600 shares at an average price of $4.0804 per share. The company may continue to buy back shares through open market transactions, depending on market conditions and regulatory constraints. Dominari has shifted focus from developing therapeutics to fintech and financial services following its acquisition of a registered broker-dealer, with operations expected under its subsidiary, Dominari Financial Inc.

Positive

• Share repurchase program demonstrates commitment to enhancing shareholder value.
• Recent share purchase at $4.0804 may positively impact earnings per share (EPS).
• Strategic shift towards fintech could open new revenue streams.

Negative

• Transition to fintech may involve execution risks and uncertainties.
• The $2 million repurchase may limit funds available for other strategic investments.

NEW YORK, Feb. 15, 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 14, 2023, the Company purchased 4,600 shares of common stock at $4.0804 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 share repurchase program aims to enhance shareholder value by reducing the number of outstanding shares.

How many shares has Dominari Holdings repurchased?

As of February 14, 2023, Dominari Holdings has repurchased 4,600 shares.

What was the average price per share during the recent repurchase by Dominari Holdings?

The average price per share repurchased was $4.0804.

What are the future plans for the share repurchase program of Dominari Holdings?

Additional shares may be repurchased based on market conditions and regulatory limitations.

When was the share repurchase program authorized by Dominari Holdings' Board?

The share repurchase program was authorized on December 5, 2022.