Ripple Labs plans to repurchase $285m stake in tender offer
Ripple Labs initiated a $285 million share buyback, valuing the company at $11.3 billion, amid regulatory uncertainties. On Jan. 10, Ripple Labs, a cryptocurrency company famous for XRP, announced a buyback of $285 million in company shares from early investors and employees, valuing the firm at $11.3 billion. The tender offer allows investors to sell up to 6% of their stake . Confirming the buyback, Ripple disclosed plans to allocate $500 million for the repurchase , covering the conversion of restricted stock units into shares and associated taxes. Ripple to buy back $285 million of its shares, valuing company at $11 bln – sources https://t.co/qK0NXKYRLt pic.twitter.com/maaeoF0TXN — Reuters (@Reuters) January 10, 2024 You might also like: Talk of spot ETF lifts XRP, whales tracking ETH, INJ, and ROE Ripple aims to conduct regular share buybacks to enhance liquidity for investors and has no immediate plans to go public in the U.S., citing regulatory unce...