Empery Digital (EMPD) boosted its stock buyback authorization to $200 million and reaffirmed its plan to address the gap between its enterprise value and net asset value.
The share repurchases will be funded by bitcoin sales or incremental drawdowns on debt facilities, the company said Thursday in a statement.
The board and management said that "mathematical analysis does not support an immediate liquidation of its entire bitcoin portfolio and therefore is not in the best interests of all shareholders," according to the statement.
Price: 3.40, Change: -1.10, Percent Change: -24.44