Robinhood Announces Purchase of Shares Previously Owned by Emergent Fidelity Technologies
Robinhood Markets. Inc. (Nasdaq:HOOD) today announced that it has successfully purchased all 55,273,469 shares
Earlier this year, we shared that our Board of Directors authorized us to pursue purchasing most or all of the 55 million remaining Robinhood shares that Emergent Fidelity Technologies, Ltd. had bought in May 2022.
The proposed share purchase underscored the confidence that the Board of Directors and management team have in our business and the success of this effort is another step in delivering shareholder value.
On August 31, 2023, Robinhood completed the purchase of all 55,273,469 shares for a total cost of $605,694,411.59, or approximately $10.96 per share.
“We are happy to have completed the purchase of these shares and look forward to executing on our growth plans on behalf of our customers and shareholders,” said Jason Warnick, Chief Financial Officer of Robinhood Markets, Inc.
Read the filed form 8-K here.