Empery Digital increases share buyback program to $200 million

Empery Digital Inc. (NASDAQ: EMPD) announced its board of directors increased the company's share repurchase program to $200 million, with approximately $100 million available under the expanded program.

The Austin-based company plans to fund the share buybacks through bitcoin sales, additional borrowing from existing debt facilities, or a combination of both methods. The funding approach will depend on the company's leverage ratios and valuation relative to its net asset value.

Empery Digital operates a bitcoin treasury strategy focused on accumulating bitcoin while working to maximize bitcoin per share for shareholders. The company stated it will use the repurchase program to address what it describes as a gap between its enterprise value and net asset value.

The board and management indicated they believe share repurchases below net asset value will increase net asset value per share at a rate exceeding bitcoin's growth rate. Company leadership stated they do not support an immediate liquidation of the entire bitcoin portfolio.

The announcement comes as part of the company's ongoing strategy to manage digital assets through blockchain technology. Empery Digital describes itself as employing a bitcoin treasury strategy aimed at aggregating bitcoin holdings while building long-term shareholder value.

Information in this report is based on the company's press release statement.

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