Ethena’s latest SEC filing outlines up to $235 million in potential buyback capacity tied to warrant-related cash proceeds, a development the source says is not fully priced into its Nasdaq DAT valuation. The filing indicates Ethena could receive about $170 million in new cash if shares are exercised at $11.50, with an additional $65 million available at $15.
The source also cites a Nasdaq DAT value of about $8 per share for USDE and says the potential buyback capacity would come in addition to a planned fee switch. No timeline for any buybacks was provided in the source material.
Ethena SEC Filing Highlights Potential $235M in Buyback Capacity
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