ProCap Financial sells 50 BTC to repurchase 2% of shares at 40% NAV discount

ProCap Financial, a Nasdaq-listed U.S. Bitcoin-focused financial company, said it sold about 50 BTC to repurchase 2% of its shares at a price roughly 40% below net asset value, or NAV. Including this buyback, the company has repurchased about 10% of its outstanding shares since launching the share repurchase program. As of the close of the stock market on Sept. 2, Bitcoin holdings stood at about 5,305 BTC, outstanding shares totaled 86,764,282, and NAV per share was about $3.71.