Eightco Plans to Use $20 Million OpenAI Sale Proceeds for Buybacks
Photo: TokenPost
Eightco Holdings (ORBS) plans to use about $20 million in gross proceeds from a partial sale of its indirect OpenAI stake for share repurchases, adding funds to a program launched in August. AI Innovation Capital LLC, the Eightco subsidiary that holds its indirect OpenAI exposure, completed the sale Oct. 26. Eightco announced the transaction Oct. 29 and plans to direct the proceeds to its existing $125 million buyback program. The sale price was about 40% above Eightco’s initial purchase price.
Source: TokenPost
