Board Recently Authorized Increase in Share Repurchase Program to $200 Million to Support Strategy
AUSTIN, Texas–(BUSINESS WIRE)–#btc–Empery Digital Inc. (NASDAQ: EMPD) (the “Company” or “Empery Digital”) today reiterated its commitment to addressing the gap between the Company’s enterprise value and its net asset value (“NAV”) through accretive share repurchases.
Empery Digital intends to fund the share repurchases with sales of bitcoin, incremental drawdowns on its debt facilities or a combination of the two based on the Company’s leverage ratios and valuation relative to NAV. The Company’s Board of Directors (the “Board”) recently increased the share repurchase program to $200 million in support of this objective, resulting in approximately $100 million available under the program.
The Board and management team believe that its current strategy of share repurchases below NAV will maximize shareholder value as accretive repurchases increase N
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