ProCap Financial, a firm positioning itself as the first publicly traded agentic finance entity, has launched a share repurchase program. The initiative is designed to narrow the gap between its stock price and its net asset value (NAV).
On February 20th, the company executed the purchase of 148,241 BRR shares on the open market. This transaction, valued at approximately $341,000, represents a modest initial step for a company that has secured over $750 million in investor funding and holds a significant bitcoin treasury valued at roughly $335 million.
The repurchased shares were acquired at a discount of approximately 35% to the net asset value of the company's bitcoin holdings.
Chairman and CEO Anthony Pompliano stated, "We were able to buy $1.00 of our stock for approximately $0.65 last week. We plan to aggressively buy as much of our stock as we can as long as the market will sell us shares at a substantial discount to NAV."
BRR shares saw a 3% increase in early U.S. trading, reaching $2.42, outperforming other bitcoin treasury companies.