NEW
YORK, Sept. 6, 2023 /PRNewswire/ -- Dominari
Holdings Inc. ("Dominari" or the "Company") today released the
following shareholder update:
Dear Fellow Shareholders,
As disclosed in prior letters and filings, Dominari has
completed its transition from a drug development company to a
financial services company, complete with a fully registered and
rapidly growing broker-dealer subsidiary. With the first full
quarter of operating a broker-dealer behind us, I am excited to
take this opportunity to update you on our business and provide you
with additional insights on how we intend to grow moving
forward.
Recent Accomplishments
With our recent acquisitions, we currently hold over
$700 million in client assets.
We will continue to aggressively seek to grow the business through
the acquisition of other wealth management teams with assets under
management. Additionally, our budding capital markets team
has already enjoyed success across a broad spectrum of industries,
including in healthcare, biotechnology, industrial and consumer
industries. To date, we have participated in more than 24 follow-on
public offerings including public offerings in
ImmunoGen, Rexford Industrial, ANI Pharmaceuticals, Inc.,
Agilon health, Maxeon Solar Technologies, Ltd., Gates Industrial,
Celestica, and GE HealthCare. Additionally, we have acted as
co-manager on two initial public offerings (IPOs). Finally, our
capital markets team was successful in raising money for two
pre-IPO special purpose vehicles and we expect to be actively
involved in any future IPOs for such companies if they
materialize. Lastly, we are looking to grow our financial
advisory business which has already started to generate fee revenue
for the Company.
The Path Forward
As demonstrated above, we will continue to create a unique blend
of traditional wealth management offerings that clients have come
to know and trust. In addition, we are creating opportunities
for our clients to participate in the leading edge of wealth
creation vehicles via our access to pre-IPO companies and other
unique alternative financial investments.
We are committed to becoming a leading full-service diversified
financial services firm, with multiple pillars of growth and
revenue. Building on our early success, we will continue to develop
a solid recurring revenue, fee-based Registered Investment
Advisor (RIA) model, which will enable us to derive revenue from
fees deposits and the lending that often occurs from these
deposits. In addition and consistent with our activities to date,
we plan to offer:
- Traditional investment banking activities such as IPOs, equity
capital markets and mergers and acquisitions advisory.
- Alternative investment activities, which will be focused on
pre-IPO activity, private placements, special purpose vehicles
(SPVs) and gaining access to top private equity funds, venture
capital (VC) funds and hedge funds for our clientele.
Our leadership team is comprised of many seasoned veterans from
leading Wall Street firms. We are building on this
experienced team to recruit top talent, from the wire houses and
various RIAs and smaller broker dealers that don't have access to
the desired offerings we have created under one umbrella. It is our
belief that many financial advisors have become disenfranchised
with the larger and more restrictive wire houses and there is a
movement towards independent providers. While many of the
independents do not offer a breadth of wire house services, we hope
to offer an even better solution for financial advisors. Our elite
custodial and clearing agreements enable us to offer all the
capabilities of the more traditional wire houses yet remain
fiercely independent and help propel forward the independent
culture, which has been attractive to so many advisors over the
last decade. We believe that with our access to investment banking,
equity capital markets and Pre-IPOs, along with our cutting edge
fintech partnerships, such as Addepar, we will offer an
unparalleled solution to an entrepreneurial-minded advisor, which
in turn, will offer a second to none experience for their
clientele.
As for Company structure, we have placed all of the legacy
AikidoPharma business into a subsidiary, Aikido Labs LLC.
Aikido Labs will continue to monitor and monetize the assets
formerly held by AikidoPharma, such as the biotechnology assets and
the Company'sholdings in other companies. We believe that
several of these other holdings may go public in the next six (6)
months. When they do, we will look to use the proceeds from
any liquidity event to bolster and potentially expand Dominari
Financial. Currently, under Dominari Financial, we have
placed Dominari Securities. Our plans are to expand the
entities under Dominari Financial to include Dominari Asset
Management that will focus on exchange traded funds and mutual
funds, as well as an insurance business. We believe this
structure will allow us to better service our clients with a full
suite of financial services.
This organization chart illustrates our current structure, where
the shaded entities denote plans for future growth:
Management strongly believes that the Company has created a
solid platform from which to grow. As evidenced by our publicly
filed Form 4s, members of the management team made multiple stock
purchase transactions throughout the first, second and third
quarters to demonstrate our belief in the Company. The
percentage of stock owned by senior management exceeds eighteen
percent (18%) of the total stock issued and outstanding.
We thank you for being a Dominari shareholder. As always, please
feel free to reach out if you have any questions.
Warm Regards,
Anthony Hayes
Chief Executive Officer
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, 2022 and its Quarterly
Report on Form 10-Q for the fiscal quarter ended March 31, 2023 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.
Contact:
Investor
Relations
Hayden IR
Brett Maas, Managing Partner
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com
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SOURCE Dominari Holdings Inc.