Dominari Holdings Issues Letter to Shareholders

NEW YORK, Jan. 28, 2026 /PRNewswire/ -- Dominari Holdings Inc. (Nasdaq: DOMH) ("Dominari" or the "Company") today issued the following letter to shareholders:

I am pleased to report that 2025 was a transformative and highly successful year for Dominari. Through disciplined execution, expanded distribution capabilities, and a focus on high-growth opportunities across both public and private markets, we delivered strong financial performance and created substantive shareholder value.

Shareholder Value Creation

As we began 2025, the Company's stock price was just over $1.00. When we closed out 2025, the Company's stock price was just under $5.00 per share. And while the prices of stocks rise and fall, Dominari's focus on returning shareholder value was clearly demonstrated by the declaration of three (3) separate dividends in 2025, totaling approximately $22.2 million directly to shareholders. The Company's management, board of directors and advisory board are pleased to deliver this level of value to our shareholders, and we thank each of you for your support.

This level of success was due directly to the success of Dominari Securities, led by its CEO Mr. Kyle Wool. In fact, through the efforts of Mr. Wool, what began just a few years ago as a focused investment banking platform, has evolved into a diversified and highly active franchise with expanding distribution, repeat issuer relationships, and growing relevance in some of the most dynamic sectors of the global economy.

Equity Capital Markets Division – A Year of Record Executions

Our Equity Capital Markets Division successfully closed more than 40 transactions, raising nearly $2 billion in capital and generating $28.8 million in gross revenue for the firm. This public entity capital was raised across a broad range of roles and transaction types, reflecting the depth and flexibility of our Equity Capital Markets platform.

Dominari Securities served as lead underwriter on approximately $418 million of capital raised and as co-underwriter on approximately $1.2 billion, underscoring our ability to both originate and support complex, large-scale transactions. In addition, our placement and advisory capabilities continued to expand, with approximately $262 million raised as exclusive placement agent and $104 million as co-placement agent.

Capital raising activity was well diversified across offering types. We completed several initial public offerings, raising approximately $45 million through S-1 registrations and $90 million through F-1 registrations. Secondary offerings generated approximately $171 million under S-3 registrations and $44 million under F-3 registrations. SPAC-related transactions represented a significant portion of our activity, with approximately $1.5 billion raised through S-1 filings, while PIPE transactions contributed an additional $148 million in capital raised.

Several transactions in 2025 were particularly noteworthy and underscore the continued expansion of Dominari Securities' capabilities and market presence. Most prominently, New America Acquisition I Corp (NYSE: NWAXU) represented our largest transaction to date. As lead underwriter, we successfully raised $345 million, demonstrating our capacity to execute large-scale offerings and serve as a trusted partner in high-profile capital raises.

We also achieved a significant milestone with Thumzup Media Corp (NASDAQ: TZUP), where we acted as exclusive placement agent on our largest secondary offering to date. Through this engagement, we raised $50 million, reflecting both strong investor demand and our growing expertise in tailored capital solutions for emerging growth companies.

In addition, Dominari Securities served as exclusive placement agent for Unusual Machines Inc. (NYSE: UMAC) on two separate secondary offerings during the year. The first transaction, completed in May, raised $40 million, followed by a second offering in July that raised $48.5 million. These successful financings highlight our ability to support repeat issuers and deliver consistent execution across multiple transactions within a compressed timeframe.

Strength in Private Placements and Structured Finance

Our private placement and structured finance activities also delivered strong results in 2025. Over the course of the year, we completed 56 private transactions, raising approximately $440.8 million in capital and generating $32.5 million in gross revenue.

Capital formation was led by American Ventures, which raised approximately $180 million, followed by direct-to-cap-table investments totaling approximately $134.1 million. Additional capital was raised through the Dominari Master SPV, which accounted for $85 million, as well as Aeon and Valkyrie X LLC, which contributed approximately $22.9 million and $19.1 million, respectively.

Several outcomes during the year were particularly noteworthy. Series III SRM delivered strong performance, distributing approximately $136.3 million in gains to investors. In addition, American Bitcoin represented the largest private placement transaction in the firm's history, raising approximately $95.4 million and generating roughly $7 million in revenue. This culminated in a successful exit through in-kind distributions to more than 190 investors in early December.

In the aggregate, Dominari Securities, raised approximately $400 million in private placements during 2025 through our American Ventures SPV platform and direct-to-cap-table investments, underscoring the continued growth and effectiveness of our private markets strategy.

Strategic Holdings in Category-Defining Companies

As part of our strategy, we continue to employ a long strategy alongside clients in private companies we believe are shaping the next generation of global innovation. During 2025, these included SpaceX, Cerebras Systems, Groq, xAI, and Anduril.

Throughout the year, these companies achieved meaningful validation through financings, partnerships, and commercial milestones and increasing scale at an accelerated page, reinforcing our conviction in their long-term potential. Importantly, these developments occurred at valuations that were materially higher than entry points for both Dominari and our clients, underscoring the value of disciplined sourcing and long-term orientation.
By way of example, SpaceX recently completed an approximately $800 million financing round, further strengthening its balance sheet and fueling expansion, with market speculation pointing toward a potential IPO at a substantially higher valuation in the coming years.

Groq announced a major strategic partnership with NVIDIA, implying a valuation of approximately $20 billion and reinforcing its position as a critical player in next-generation AI infrastructure. Cerebras Systems reached a major milestone by signing a landmark $10 billion agreement with OpenAI, increasing its valuation to approximately $22 billion, and publicly filing for an IPO. xAI also continued its rapid ascent, recently raising capital at an estimated valuation of $240 billion.

Outlook

As we look ahead to 2026, we are highly optimistic about the opportunities ahead. I believe the trajectory of Dominari Securities, under Mr. Wool's leadership, will build on last year's success and represent a period of harvesting profits for our clients as liquidity events materialize across both public and private holdings. At the same time, we remain committed to rewarding our shareholders through disciplined growth, prudent capital allocation and returning value to shareholders where appropriate.

I am extremely proud of our employees, our leadership team, our Board of Directors, Board of Advisors and our partners. On behalf of the entire Dominari team, thank you for your continued trust and support.

Kind regards,

Anthony C. Hayes

CEO of Dominari Holdings Inc.

For additional information about Dominari Holdings Inc., please visit: https://www.dominariholdings.com/

About Dominari Holdings Inc.

The Company is a holding company that, through its various subsidiaries, is currently engaged in wealth management, investment banking, sales and trading and asset management. In addition to capital investment, Dominari Holdings provides management support to the executive teams of its subsidiaries, helping them to operate efficiently and reduce cost under a streamlined infrastructure. In addition to organic growth, the Company seeks opportunities outside of its current business to enhance shareholder value, including in the AI and Data Center sectors.

Dominari Securities LLC's Mission Statement:

Dominari Securities LLC, a principal subsidiary of Dominari Holdings Inc., is a dynamic, forward-thinking financial services company that seeks to create wealth for all stakeholders by capitalizing on emerging trends in the financial services sector and identifying early-stage future opportunities that are expected to generate a high rate of return for investors.

Securities Brokerage and Registered Investment Adviser Services are offered through Dominari Securities LLC, a Member of FINRA, MSRB and SIPC. Securities brokerage, investment adviser and other non-bank deposit investments are not FDIC insured and may lose some or all of the principal invested. You can check the background of Dominari Securities and its registered investment professionals and review its SEC Form CRS on FINRA's BrokerCheck site at https://brokercheck.finra.org. Information for Dominari Securities LLC and its registered investment professionals as well as its SEC Form CRS may also be found on FINRA's BrokerCheck site.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. 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, which include but are not limited to the Risk Factors set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 relating to its business. 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.

Contacts:
Dominari Holdings Inc.
https://www.dominariholdings.com/

Investor Relations
Hayden IR
Brett Maas, Managing Partner
Phone: (646) 536-7331
Email: [email protected]
www.haydenir.com

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SOURCE Dominari Holdings Inc.