Fintech Message Board - Msg: 34402358

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From: Glenn Petersen	9/1/2023 11:28:10 AM
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HOOD up approximately 4% this morning, Robinhood buys back shares once owned by Sam Bankman-Fried Dan Primack, author of Axios Pro Rata Axios September 1, 2023 Stock-trading app Robinhood on Friday said it paid nearly $606 million to repurchase shares held by an affiliate of jailed crypto king Sam Bankman-Fried. Why it matters: Robinhood shares jumped on the news, as it became the latest company to disentangle from the former FTX CEO. Details: The repurchase covers all 55,273,469 shares bought in May 2022 by Emergent Fidelity Technologies, which represents over 7% of Robinhood's outstanding shares. -- It was conducted via an agreement with the U.S. Marshal Service. Robinhood buys back shares once owned by Sam Bankman-Fried (axios.com)

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