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. On March 8, 2023, the company repurchased 5,000 shares at an average price of $4.1979. The company may continue repurchases depending on market conditions and regulatory guidelines. Dominari, transitioning to focus on fintech and financial services, operates through its subsidiary, Dominari Financial Inc., while still developing therapeutics through Aikido Labs, LLC. The forward-looking statements in the release express potential future risks and uncertainties.

Positive

• Share repurchase program indicates confidence in the company's stock.
• 5,000 shares bought back could enhance shareholder value.
• Transition to fintech may diversify revenue streams.

Negative

• Market conditions may hinder further repurchases.
• Business transition carries execution risks.

NEW YORK, March 9, 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 March 8, 2023, the Company purchased 5,000 shares of common stock at $­­­­­­­4.1979 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's share repurchase program?

The share repurchase program aims to enhance shareholder value and indicates management's confidence in the company's stock.

How many shares did Dominari Holdings repurchase?

On March 8, 2023, Dominari repurchased 5,000 shares at $4.1979 each.

What is the total amount allocated for Dominari's share buyback?

Dominari has authorized a total of $2 million for its share repurchase program.

When was Dominari's share repurchase program authorized?

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

What factors influence Dominari's share repurchase decisions?

Repurchase timing and amounts depend on market conditions, corporate actions, and regulatory limitations.