Dominari Holdings Provides Update on Share Repurchase Program

Rhea-AI Summary

Dominari Holdings Inc. (Nasdaq: DOMH) announced an update regarding its $2 million Share Repurchase Program, initiated on December 5, 2022. On January 13, 2023, the company repurchased 4,900 shares at $3.6553 each. The repurchase may continue based on market conditions and regulatory guidelines, with the timing and quantities varying accordingly. Dominari is transitioning its focus to fintech and financial services while maintaining its therapeutic development efforts through its subsidiary, Aikido Labs. This shift aims to enhance shareholder value and potentially stabilize stock performance amid operational changes.

Positive

• Share repurchase program of $2 million enhances shareholder value.
• Recent buyback of 4,900 shares indicates management's confidence in stock price.
• Transition to fintech and financial services could open new revenue streams.

Negative

• None.

NEW YORK, Jan. 17, 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 January 13, 2023, the Company purchased 4,900 shares of common stock at $3.6553 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 current status of Dominari Holdings' share repurchase program?

As of January 13, 2023, Dominari Holdings repurchased 4,900 shares at $3.6553 each as part of its $2 million share repurchase program.

How much has Dominari Holdings allocated for its share buyback program?

Dominari Holdings has authorized a $2 million share repurchase program.

What is the purpose of the share repurchase program by Dominari Holdings?

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

How does Dominari Holdings plan to conduct its share repurchases?

Repurchases may occur through open market transactions, adhering to regulatory guidelines and market conditions.

What strategic changes is Dominari Holdings implementing?

Dominari Holdings is transitioning its focus to fintech and financial services while continuing its therapeutic development.