Eightco Holdings (ORBS) announced that its subsidiary, AI Innovation Capital LLC, sold a portion of its indirect interest in OpenAI Group, PBC for approximately $20 million in gross cash proceeds. The company intends to use the capital from this strategic monetization to accelerate its existing share repurchase program.
Key Details
- Transaction Date: The sale was completed on October 26, 2026.
- Proceeds: The company received aggregate gross cash proceeds of approximately $20.0 million.
- Investment Gain: The sale was executed at a price roughly 40% above the company’s initial purchase price, realizing a significant gain on the investment.
- Use of Funds: Proceeds will be used to fund additional share repurchases under the company's previously announced $125 million buyback program, under which it has already repurchased over 55 million shares.