Robinhood Markets. Inc. (NASDAQ:HOOD) today announced that it has successfully purchased all 55,273,469 shares previously owned by Emergent Fidelity Technologies, Ltd.
Earlier this year, Robinhood announced that its Board of Directors authorized the company to pursue purchasing most or all of the 55 million remaining Robinhood shares that Emergent Fidelity Technologies, Ltd. had bought in May 2022.
Robinhood commented:
“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.
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