Eightco ($ORBS) Announces Multi-Month Lock-Up Extension Among Key Investors
On October 30, 2023, Eightco Holdings Inc. (NASDAQ: ORBS) revealed a significant extension of the lock-up period for its management, board members, and PIPE investors. This strategic decision underscores a strong commitment to the company's long-term growth objectives and its operational roadmap.
Key Highlights of the Announcement
- Multi-month lock-up extension applies to management, the Board, and 100% of PIPE investors.
- Approval of a share buyback program valued at $125 million.
- Strong backing from a variety of strategic institutional investors including Bitmine Immersion Technologies (BMNR) and Kraken.
Management Comments on the Lock-Up Extension
Chairman Dan Ives remarked, “When the Board, management team, and PIPE investors are all locked in, it tells us leadership is fully aligned behind the company's vision and confident in the roadmap ahead.” This sentiment highlights the importance of insider confidence in driving long-term value.
In a similar vein, CEO Kevin O'Donnell stated, “Following the recently announced $125 million buyback, this lock-up sends a clear signal of confidence in Eightco's vision, growth strategy, and roadmap.” With several forthcoming announcements, he expressed enthusiasm about engaging shareholders further in the coming weeks.
Strategic Partnerships and Future Roadmap
Eightco is leveraging partnerships with prominent companies such as Mythical Games and Coinbase to foster the creation of a universal framework for digital identity and authentication. The company’s flagship product, Infinity by ORBS, focuses on building AI-resistant enterprise authentication systems.
In January, Eightco plans to hold an institutional investor-focused non-deal roadshow to actively engage with the investment community and showcase its unique technology platform.
About Eightco Holdings Inc.
Eightco Holdings Inc. (NASDAQ: ORBS) is pioneering the authentication and trust layer for the post-AGI world. The company's mission focuses on consumer, enterprise, and gaming authentication. Through its innovative digital asset strategies, such as the groundbreaking Worldcoin treasury, Eightco is establishing a universal foundation for digital identity and Proof of Human verification.