Core Viewpoint - DeFi Technologies Inc. intends to initiate a Normal Course Issuer Bid (NCIB) to repurchase its common shares, believing that the current market price does not reflect the underlying value of the company [1][2]. Group 1: NCIB Details - The NCIB will commence on August 26, 2025, and run through August 26, 2026, or until completed earlier [3]. - The company may purchase up to 10% of the public float, which amounts to 31,673,791 common shares, and all purchased shares will be canceled [4]. - Daily purchases under the NCIB cannot exceed 25% of the average daily trading volume on Nasdaq and Cboe Canada from February 18, 2025, to August 18, 2025 [4]. Group 2: Financial Position - The current cash balance of the company is approximately US$19.8 million, which management considers sufficient for the share repurchase [2]. Group 3: Company Overview - DeFi Technologies is a financial technology company that connects traditional capital markets with decentralized finance (DeFi) [5]. - The company operates as the first Nasdaq-listed digital asset manager, providing diversified exposure to the decentralized economy through various subsidiaries [5]. - Key subsidiaries include Valour, which offers access to digital assets via regulated ETPs, and Stillman Digital, a digital asset prime brokerage [6][7].
DeFi Technologies Announces Launch of Normal Course Issuer Bid