Bitcoin treasury company ProCap (BRR) buys back $350,000 in stock

ProCap Financial (BRR), which identifies as the first publicly traded agentic finance firm, has initiated a share repurchase program to narrow the gap between its stock price and its Net Asset Value (NAV). The company announced it repurchased approximately 148,241 shares on February 20th for about $341,000, implying a purchase price around $2.30 per share. While this initial buyback is modest compared to the over $750 million raised and its holdings of over 5,000 bitcoin (valued around $335 million), the shares were acquired at roughly a 35% discount to the NAV of the bitcoin it holds. Chairman and CEO Anthony Pompliano stated they intend to aggressively buy back more stock as long as the market sells shares at a significant discount to NAV. Following this news, BRR shares were trading up 3% to $2.42.

(Source：CoinDesk)