Dominari Holdings Inc. Releases Shareholder Update

News provided by

Sep 06, 2023, 08:30 ET

NEW YORK, Sept. 6, 2023 /PRNewswire/ -- Dominari Holdings Inc. ("Dominari" or the "Company") today released the following shareholder update:

Dear Fellow Shareholders,

This organization chart illustrates our current structure, where the shaded entities denote plans for future growth.

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: [email protected]
www.haydenir.com

SOURCE Dominari Holdings Inc.