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, authorized on December 5, 2022. On January 18, 2023, Dominari repurchased 3,800 shares at a price of $3.8105 per share. Additional share purchases may occur based on market conditions and regulatory limitations. This program is part of Dominari's strategic shift to fintech and financial services following its acquisition of a broker-dealer. The company also continues to develop its therapeutics through its subsidiary, Aikido Labs.

Positive

• Authorization of a $2 million share repurchase program enhances shareholder value.
• Repurchase of 3,800 shares at $3.8105 suggests confidence in the company's stock.
• Transition to fintech and financial services may open new revenue streams.

Negative

• None.

NEW YORK, Jan. 19, 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 18, 2023, the Company purchased 3,800 shares of common stock at $3.8105 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 amount of the share repurchase program for Dominari Holdings?

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

When did Dominari Holdings repurchase its shares?

Dominari Holdings repurchased shares on January 18, 2023.

How many shares did Dominari Holdings repurchase?

The company repurchased 3,800 shares at $3.8105 per share.

What strategic changes is Dominari Holdings undergoing?

Dominari Holdings is transitioning its primary operations to fintech and financial services following its acquisition of a registered broker-dealer.