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. The company purchased 5,000 shares at $4.2658 per share on March 2, 2023. Future repurchases will depend on market conditions, corporate strategies, and regulatory limitations. Dominari, previously focused on anticancer and antiviral therapeutics, is transitioning to fintech through its subsidiary, Dominari Financial Inc. The company remains involved in its therapeutic ventures via Aikido Labs, LLC.

Positive

• Initiation of a $2 million share repurchase program, demonstrating commitment to enhancing shareholder value.
• Recent buyback of 5,000 shares indicates active management of capital structure.

Negative

• Transitioning business focus from therapeutics to fintech may create uncertainty about future revenue sources.

NEW YORK, March 3, 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 2, 2023, the Company purchased 5000 shares of common stock at $­­­­­­­4.2658 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

View original content to download multimedia:https://www.prnewswire.com/news-releases/dominari-holdings-provides-update-on-share-repurchase-program-301761725.html

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.

When did Dominari Holdings announce the share repurchase program?

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

How many shares did Dominari Holdings repurchase recently?

On March 2, 2023, Dominari Holdings repurchased 5,000 shares.

What was the repurchase price of the shares by Dominari Holdings?

The shares were repurchased at $4.2658 per share.

What is the total amount allocated for the share repurchase by Dominari Holdings?

Dominari Holdings has allocated $2 million for the share repurchase program.

What impact does the share repurchase have on Dominari Holdings' stock?

The share repurchase can potentially increase earnings per share (EPS) by reducing the number of shares outstanding.