Empery Digital Repurchases 15.4 Million Shares Under $200 Million Program
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
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Should l Buy EMPD?
Source: seekingalpha
- Buyback Program Progress: Empery Digital has repurchased 15.4 million shares of its common stock under its $200 million share repurchase program, with an average purchase price of $6.71 per share, reflecting the company's confidence in its intrinsic value.
- Outstanding Shares Update: Following the repurchases, the total number of outstanding shares is now 36.02 million, factoring in the potential exercise of 870,240 pre-funded warrants, which enhances the potential for earnings per share.
- Bitcoin Sales Revenue: During the week ending February 6, the company sold 357.7 BTC at an average price of $67,907 per BTC, generating approximately $24 million in gross proceeds, which will be allocated for share repurchases and partial debt repayment.
- Risk Management Strategy: The company intends to use a portion of the sale proceeds to prudently manage risk and release collateral in light of recent volatility in bitcoin, while currently holding 3,723.7 BTC in its treasury, indicating its ongoing engagement in the cryptocurrency market.
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Analyst Views on EMPD
About EMPD
Empery Digital Inc., formerly Volcon, Inc., is focused on the bitcoin treasury strategy with the goal of becoming a global aggregator of bitcoin. The Company holds approximately 4,018.36 Bitcoin (BTC). The Company is also engaged in the electric off-road power sports business. The Company sells Volcon electric two-wheeled E-Bikes and motorcycles, utility terrain vehicles, or UTVs, also known as side-by-sides, and golf carts, along with a line of upgrades and accessories. The Company's products include HF1, MN1, and Brat. The HF1 is Volcon's premier performance UTV. The VLCN MN1 has two models: the MN1 Adventurer, a golf cart-style product, which has four seats with a fold-down rear seat to accommodate light cargo, and the MN1 Tradesman, which has two seats with a dump bed for utility purposes. The Brat is a class 2 E-Bike and can be used on-road or off-road.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Empery Digital Repurchases Approximately 15.9 Million Shares
- Repurchase Progress: Empery Digital has repurchased 15,882,992 shares under its $200 million share repurchase program as of February 10, 2026, at an average price of $6.63 per share, demonstrating the company's commitment to repurchasing shares opportunistically below net asset value (NAV).
- Credit Facility Amendment: The amendment with Two Prime Lending reduces the initial collateral requirement from 250% to 174%, which not only frees up collateral but also enhances management's flexibility to fund future share repurchases and repay higher collateral requirement borrowings.
- Interest Rate Increase Impact: The amendment raises the interest rate on the facility from 6.5% to 7.5%, which, while increasing financing costs, reflects the company's ongoing commitment to maximizing per-share value through balance sheet optimization.
- Bitcoin Holding Strategy: The company plans to reduce its bitcoin holdings to fund future share repurchases, a strategy that not only aims to close the NAV gap but also potentially enhances financial stability amid market volatility.
See More
Empery Digital Repurchases 15.4 Million Shares Under $200 Million Program
- Buyback Program Progress: Empery Digital has repurchased 15.4 million shares of its common stock under its $200 million share repurchase program, with an average purchase price of $6.71 per share, reflecting the company's confidence in its intrinsic value.
- Outstanding Shares Update: Following the repurchases, the total number of outstanding shares is now 36.02 million, factoring in the potential exercise of 870,240 pre-funded warrants, which enhances the potential for earnings per share.
- Bitcoin Sales Revenue: During the week ending February 6, the company sold 357.7 BTC at an average price of $67,907 per BTC, generating approximately $24 million in gross proceeds, which will be allocated for share repurchases and partial debt repayment.
- Risk Management Strategy: The company intends to use a portion of the sale proceeds to prudently manage risk and release collateral in light of recent volatility in bitcoin, while currently holding 3,723.7 BTC in its treasury, indicating its ongoing engagement in the cryptocurrency market.
See More
Empery Digital Shareholder Calls for Management Resignation
- Shareholder Discontent: Tice P. Brown, a 9% shareholder of Empery Digital Inc., expressed strong dissatisfaction with CEO Ryan Lane's management, calling for his immediate resignation and a complete board overhaul, highlighting serious concerns about corporate governance.
- Management Dereliction: Brown criticized the board for implementing a poison pill to block shareholder capital returns, indicating self-serving behavior that tarnishes the company's governance image and could undermine investor confidence.
- Financial Risk Alert: He warned of a $105 million margin loan that should be repaid by selling Bitcoin, signaling financial risks and high operational costs that may jeopardize future financial stability.
- Lack of Clear Strategy: Brown condemned the management for lacking a clear future plan, asserting that the company should liquidate assets immediately to maximize shareholder value, reflecting deep dissatisfaction with the company's strategic direction.
See More
Empery Digital Shareholder Calls for Management Resignation
- Call for Resignation: Tice P. Brown, a 9% shareholder of Empery Digital Inc., demands the immediate resignation of CEO Ryan Lane and the entire Board due to the management's implementation of a poison pill that obstructs shareholder capital returns, indicating severe dissatisfaction with corporate governance.
- Mismanagement Allegations: Brown accuses the management of allowing employees to day-trade hundreds of millions in Bitcoin derivatives while lacking a concrete future plan, which undermines the company's operational goals and significantly impacts shareholder interests.
- Debt Concerns: He highlights a reckless $105 million margin loan that should be paid off immediately by selling Bitcoin, reflecting deep concerns about the company's financial health and the need to mitigate further financial risks.
- Social Media Controversy: Brown points out that CEO Ryan Lane has posted inappropriate content on social media, even using the corporate Twitter account to spread conspiracy theories, which reflects management's dereliction of duty and unprofessionalism, damaging the company's public image.
See More
Empery Digital Increases Share Repurchase Program to $200 Million
- Repurchase Program Expansion: Empery Digital has increased its share repurchase program from $150 million to $200 million, reflecting the company's confidence in its stock value and likely enhancing investor trust.
- Repurchase Progress: As of February 2, 2026, the company has repurchased 14.26 million shares at an average price of $6.90 per share, a move that not only boosts earnings per share but may also positively impact the stock price.
- Remaining Funds: Following the increase in the repurchase program, Empery Digital has approximately $102 million remaining for future stock buybacks, providing the company with flexibility to respond to market fluctuations and further enhance shareholder value.
- Market Reaction Expectations: The expansion of this repurchase program is likely to attract more investor attention, especially in the current market environment where stock buybacks are viewed as a crucial strategy for enhancing shareholder returns.
See More
Empery Digital Adopts Shareholder Rights Plan Amid Stock Accumulation
- Shareholder Rights Plan: Empery Digital has implemented a limited-duration shareholder rights plan effective immediately to counter ATG Capital's rapid stock accumulation without disclosed intentions, with the plan set to expire on February 2, 2027, aimed at protecting long-term shareholder interests.
- Increased Repurchase Program: The Board has raised the share repurchase program from $150 million to $200 million, with 14,264,933 shares repurchased at an average price of $6.90 as of February 2, 2026, demonstrating the company's commitment to enhancing shareholder value.
- Trigger Conditions Established: The rights plan stipulates that rights will become exercisable if any individual or group acquires over 12.5% of shares, allowing holders to purchase common stock at a 50% discount, ensuring fair compensation for shareholders during control changes.
- Legal Advisory Support: Ropes & Gray LLP is acting as legal counsel for Empery Digital, ensuring compliance with relevant laws and regulations during the implementation of the shareholder rights and repurchase plans, thereby bolstering shareholder confidence.
See More
Empery Digital Repurchases Approximately 15.9 Million Shares
- Repurchase Progress: Empery Digital has repurchased 15,882,992 shares under its $200 million share repurchase program as of February 10, 2026, at an average price of $6.63 per share, demonstrating the company's commitment to repurchasing shares opportunistically below net asset value (NAV).
- Credit Facility Amendment: The amendment with Two Prime Lending reduces the initial collateral requirement from 250% to 174%, which not only frees up collateral but also enhances management's flexibility to fund future share repurchases and repay higher collateral requirement borrowings.
- Interest Rate Increase Impact: The amendment raises the interest rate on the facility from 6.5% to 7.5%, which, while increasing financing costs, reflects the company's ongoing commitment to maximizing per-share value through balance sheet optimization.
- Bitcoin Holding Strategy: The company plans to reduce its bitcoin holdings to fund future share repurchases, a strategy that not only aims to close the NAV gap but also potentially enhances financial stability amid market volatility.
See More
Empery Digital Repurchases 15.4 Million Shares Under $200 Million Program
- Buyback Program Progress: Empery Digital has repurchased 15.4 million shares of its common stock under its $200 million share repurchase program, with an average purchase price of $6.71 per share, reflecting the company's confidence in its intrinsic value.
- Outstanding Shares Update: Following the repurchases, the total number of outstanding shares is now 36.02 million, factoring in the potential exercise of 870,240 pre-funded warrants, which enhances the potential for earnings per share.
- Bitcoin Sales Revenue: During the week ending February 6, the company sold 357.7 BTC at an average price of $67,907 per BTC, generating approximately $24 million in gross proceeds, which will be allocated for share repurchases and partial debt repayment.
- Risk Management Strategy: The company intends to use a portion of the sale proceeds to prudently manage risk and release collateral in light of recent volatility in bitcoin, while currently holding 3,723.7 BTC in its treasury, indicating its ongoing engagement in the cryptocurrency market.
See More
Empery Digital Shareholder Calls for Management Resignation
- Shareholder Discontent: Tice P. Brown, a 9% shareholder of Empery Digital Inc., expressed strong dissatisfaction with CEO Ryan Lane's management, calling for his immediate resignation and a complete board overhaul, highlighting serious concerns about corporate governance.
- Management Dereliction: Brown criticized the board for implementing a poison pill to block shareholder capital returns, indicating self-serving behavior that tarnishes the company's governance image and could undermine investor confidence.
- Financial Risk Alert: He warned of a $105 million margin loan that should be repaid by selling Bitcoin, signaling financial risks and high operational costs that may jeopardize future financial stability.
- Lack of Clear Strategy: Brown condemned the management for lacking a clear future plan, asserting that the company should liquidate assets immediately to maximize shareholder value, reflecting deep dissatisfaction with the company's strategic direction.
See More
Empery Digital Shareholder Calls for Management Resignation
- Call for Resignation: Tice P. Brown, a 9% shareholder of Empery Digital Inc., demands the immediate resignation of CEO Ryan Lane and the entire Board due to the management's implementation of a poison pill that obstructs shareholder capital returns, indicating severe dissatisfaction with corporate governance.
- Mismanagement Allegations: Brown accuses the management of allowing employees to day-trade hundreds of millions in Bitcoin derivatives while lacking a concrete future plan, which undermines the company's operational goals and significantly impacts shareholder interests.
- Debt Concerns: He highlights a reckless $105 million margin loan that should be paid off immediately by selling Bitcoin, reflecting deep concerns about the company's financial health and the need to mitigate further financial risks.
- Social Media Controversy: Brown points out that CEO Ryan Lane has posted inappropriate content on social media, even using the corporate Twitter account to spread conspiracy theories, which reflects management's dereliction of duty and unprofessionalism, damaging the company's public image.
See More
Empery Digital Increases Share Repurchase Program to $200 Million
- Repurchase Program Expansion: Empery Digital has increased its share repurchase program from $150 million to $200 million, reflecting the company's confidence in its stock value and likely enhancing investor trust.
- Repurchase Progress: As of February 2, 2026, the company has repurchased 14.26 million shares at an average price of $6.90 per share, a move that not only boosts earnings per share but may also positively impact the stock price.
- Remaining Funds: Following the increase in the repurchase program, Empery Digital has approximately $102 million remaining for future stock buybacks, providing the company with flexibility to respond to market fluctuations and further enhance shareholder value.
- Market Reaction Expectations: The expansion of this repurchase program is likely to attract more investor attention, especially in the current market environment where stock buybacks are viewed as a crucial strategy for enhancing shareholder returns.
See More
Empery Digital Adopts Shareholder Rights Plan Amid Stock Accumulation
- Shareholder Rights Plan: Empery Digital has implemented a limited-duration shareholder rights plan effective immediately to counter ATG Capital's rapid stock accumulation without disclosed intentions, with the plan set to expire on February 2, 2027, aimed at protecting long-term shareholder interests.
- Increased Repurchase Program: The Board has raised the share repurchase program from $150 million to $200 million, with 14,264,933 shares repurchased at an average price of $6.90 as of February 2, 2026, demonstrating the company's commitment to enhancing shareholder value.
- Trigger Conditions Established: The rights plan stipulates that rights will become exercisable if any individual or group acquires over 12.5% of shares, allowing holders to purchase common stock at a 50% discount, ensuring fair compensation for shareholders during control changes.
- Legal Advisory Support: Ropes & Gray LLP is acting as legal counsel for Empery Digital, ensuring compliance with relevant laws and regulations during the implementation of the shareholder rights and repurchase plans, thereby bolstering shareholder confidence.
See More
