Empery Digital secures $25 million credit facility for share buybacks

Empery Digital Inc. (NASDAQ: EMPD) announced it has secured a $25 million committed borrowing facility to fund share repurchases, according to a company press release.

The facility allows the company to draw funds at its discretion to repurchase shares when they trade below net asset value. Empery Digital anticipates securing an additional $75 million through an uncommitted borrowing facility, bringing total potential funding to $100 million.

The company amended its existing share repurchase agreement to reduce fees to 1%. "These facilities and the amended share repurchase agreement provide us with the flexibility to strategically leverage a modest portion of our BTC portfolio to increase bitcoin per share through opportunistic share repurchases if our share price trades below NAV," said Ryan Lane, Co-CEO and Chairman.

Empery Digital also reported acquiring 25.20 additional Bitcoin since August 12 for $3.0 million. The company now holds 4,051.90 Bitcoin with an aggregate purchase price of approximately $476 million, reflecting an average cost of $117,554 per Bitcoin.

The Austin-based company adopted a Bitcoin treasury strategy in July, transitioning from its previous focus as an electric vehicle manufacturer. The electric vehicle operations now operate under the Empery Mobility brand name.

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