Robinhood Buys Back Shares US Seized From Sam Bankman-Fried
- Shares were the subject of competing claims by BlockFi, others
- The purchase eliminates ‘near-term overhang’ on the stock
This article is for subscribers only.
Robinhood Markets Inc. bought back $605.7 million of company stock that had been controlled by Sam Bankman-Fried and was caught up in a contentious ownership fight.
The purchase from the US Marshal Service, which was completed on Thursday, involved about 55.3 million shares of the company’s Class A common stock that had been seized by the government, Robinhood said in a regulatory filing Friday. The purchase price was $10.96 a share, according to the filing.