Dominari Holdings Provides Update on Share Repurchase Program

Rhea-AI Summary

Dominari Holdings Inc. (Nasdaq: DOMH) announced updates on its $2 million share repurchase program authorized on December 5, 2022. As of February 28, 2023, the Company repurchased 4,603 shares at $3.7434 per share. The repurchase may continue periodically, influenced by market conditions and regulatory limitations. The Company, rebranded from Aikido Pharma, is transitioning its focus to fintech through its subsidiary, Dominari Financial Inc., while still pursuing therapeutic development via Aikido Labs, LLC. This dual focus aims to enhance long-term shareholder value.

Positive

• Share repurchase program valued at $2 million potentially increases shareholder value.
• Recent share buyback of 4,603 shares may support stock price stability.
• Transition to fintech may diversify revenue streams and enhance growth prospects.

Negative

• The transition to fintech involves risks and uncertainties related to market acceptance and operational execution.
• Limited immediate financial metrics provided may raise concerns about current performance.

NEW YORK, March 1, 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 28, 2023, the Company purchased 4,603 shares of common stock at $3.7434 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 value of Dominari Holdings' share repurchase program?

The share repurchase program is valued at $2 million.

How many shares did Dominari Holdings repurchase recently?

Dominari Holdings repurchased 4,603 shares on February 28, 2023.

At what price did Dominari Holdings buy back shares?

Shares were repurchased at $3.7434 each.

When was the share repurchase program authorized?

The program was authorized on December 5, 2022.

What is Dominari Holdings' new business focus?

Dominari Holdings is shifting its focus to fintech and financial services.