Dominari Holdings Provides Update on Share Repurchase Program

Rhea-AI Summary

Dominari Holdings Inc. (Nasdaq: DOMH) has updated its $2 million share repurchase program, initiated on December 5, 2022. On March 20, 2023, the company purchased 4,900 shares at $3.3759 each. The repurchase plan allows for additional shares to be bought based on market conditions and regulatory guidelines. While the company has transitioned from a focus on therapeutics to fintech through Dominari Financial Inc., it continues to develop its therapeutic pipeline via Aikido Labs, LLC. This strategic shift may enhance shareholder value and confidence in future growth.

Positive

• Share repurchase program of $2 million enhances shareholder value.
• Repurchased 4,900 shares at a price reflecting a commitment to stock stability.
• Transition to fintech may provide new growth opportunities.

Negative

• None.

NEW YORK, March 21, 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 20, 2023, the Company purchased 4,900 shares of common stock at $3.3759 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 the share repurchase program by Dominari Holdings (DOMH)?

The share repurchase program aims to enhance shareholder value by reducing the number of outstanding shares.

When did Dominari Holdings announce its latest share repurchase?

Dominari Holdings announced its latest share repurchase on March 20, 2023.

How many shares did Dominari Holdings repurchase and at what price?

Dominari Holdings repurchased 4,900 shares at a price of $3.3759 each.

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

The total amount allocated for the share repurchase program is $2 million.

What changes are happening in Dominari Holdings' business focus?

Dominari Holdings is shifting from a focus on anticancer and antiviral therapeutics to fintech and financial services.