Dominari Holdings Issues Shareholder Letter

Company Reports Revenue of $35.8 million up 395% from prior year

Total Capital invested across all SPV Series: approximately $292 million

Record Date of May 15^th for $9 Million Dividend Payment

NEW YORK, May 13, 2026 /PRNewswire/ -- Dominari Holdings Inc. (Nasdaq: DOMH) ("Dominari" or the "Company") today issued the following letter to shareholders:

Dear Shareholder,

As we approach mid-year, I want to take this opportunity to thank you for being a Dominari shareholder and provide you with some updates.

10Q Summary

The year is off to a strong start. As noted in our 10Q just filed with the SEC, first quarter revenue is up significantly, and we have increased our annual recurring revenue. Highlights from the 10Q include:

• Revenue of $35.8 million, up 395% from the prior year's first quarter's revenue of $7.2 million.
• Underwriting revenues totaled $32.9 million in Q1 2026 as compared to $5.6 million for Q1 2025, representing a 488% increase.
• Carried interest totaled $1.1 million as compared to no such revenue in Q1 2025.
• The Company's annual recurring revenue (ARR) increased to $1.1 million from $0.4 million at the end of Q1 2025, reflecting an increase of 189%.

I encourage all shareholders to review the 10Q, which has been filed with the SEC.

Company Legacy Holdings

In addition, I'd like to discuss the Company's portfolio of legacy holdings. Dominari's wholly owned subsidiary, Dominari Labs, holds a portfolio of investments consisting of a mix of private company equity investments, public market holdings, preferred securities, convertible instruments, and warrant-enhanced positions. Some of our positions have seen significant unrealized appreciation, led by xAI, Groq, Cerebras, Skyline Builders Group, Datacentrex, and JFB Construction Holdings. As of mid-April 2026, the market value of our holdings in Dominari Labs exceeded $5,000,000.00. It is our intent to liquidate these positions when appropriate to augment shareholder value.

Special Purpose Vehicles

Another area of shareholder value is in our Special Purpose Vehicles ("SPVs"). There are speculative stories in the press about these SPVs, how they work and how Dominari runs our process. Much of what is in the media is incorrect. So, to clarify any potential confusion, I'd like to explain how our process works generally, keeping in mind that every situation is different. 

Generally, Dominari has two types of SPVs, "Unicorn SPVs" and "Venture SPVs." Unicorn SPVs, as the name suggests, focus on raising money to purchase shares in private companies with a valuation of one billion dollars or more, that are expected to go public. Examples of our Unicorn SPVs include the names such as, SpaceX, xAI, Groq, Cerebras.

The second type of SPVs are referred to as Venture SPVs. To start, Dominari establishes a new Venture SPV for every new project. We then raise money for each new SPV, often without a specific target or use of proceeds in mind. Next, we work to identify public vehicles with operating businesses that might benefit from augmented business lines. Once a public vehicle has been identified, we conduct due diligence and collaborate with the public entity to align management with concept of augmenting its existing business. Once those issues, if any, are resolved, we then may take a position in the public entity for our clients and occasionally Dominari, through our SPVs. All of this work is done by Dominari, not our investors or advisors.

Our investment thesis is simple: We identify and invest in U.S.-based leaders in new technologies that create American jobs and reduce U.S. dependence on foreign resources. The Skyline Builders/Kaz Resources transaction is an example. An American Venture SPV was formed, money was raised, and the work with Skyline Builders was performed before Kaz Resources was even approached. We then found an opportunity in Kaz Resources to lessen U.S. dependance on foreign governments for the incredibly important rare mineral of tungsten. Tungsten is crucial for the aerospace industry, military applications, electrical contacts, and heating elements. According to the U.S. Geological Survey, tungsten is not actively mined in the U.S. and approximately 80% of the world supply of tungsten is mined in China. So, in keeping with our thesis of creating American jobs and lessening our dependance on foreign governments, the combination of these two entities, created a more meaningful U.S. company that can help support America.

With that background, a summary of the combined SPV data of all funds as of mid-April shows:

• Total capital invested across all series: approximately $292 million.
• Total estimated value of all series: approximately $1.27 billion.
• Estimated carry to Dominari: approximately $110 million.

The estimated carry referenced above changes constantly, due to market conditions. However, the "carry" is potential revenue for the Company, representing significant value for our shareholders.

Dividends

In addition to the above, as recently announced, the Dominari board of directors has authorized a special cash dividend of, in the aggregate, approximately $9 million, or approximately $0.31 per share. The dividend is payable on or about May 29, 2026, to DOMH's common stock shareholders and certain DOMH warrant holders (on an as-exercised basis) of record as of the close of business on May 15, 2026. This represents the second cash dividend paid this year and is in addition to the approximately $22,000,000.00 we have already paid to shareholders in the last 18 months. We believe this shows our continual efforts to return value directly to our shareholders.

It is the intent of the Company to continue to work to build shareholder value and, when financially responsible, to make additional dividend distributions in the future, subject to market conditions and appropriate due diligence.

On behalf of all employees, we hope you find this update helpful, and we thank you for being a Dominari shareholder.

Sincerely,

Anthony Hayes
CEO, Dominari Holdings Inc.

For additional information about Dominari Holdings Inc., please visit: https://www.dominariholdings.com/

About Dominari Holdings Inc.

The Company is a holding company that, through its various subsidiaries, is currently engaged in wealth management, investment banking, sales and trading and asset management. In addition to capital investment, Dominari Holdings provides management support to the executive teams of its subsidiaries, helping them to operate efficiently and reduce cost under a streamlined infrastructure. In addition to organic growth, the Company seeks opportunities outside of its current business to enhance shareholder value, including in the AI and Data Center sectors.

Dominari Securities LLC's Mission Statement:

Dominari Securities LLC, a principal subsidiary of Dominari Holdings Inc., is a dynamic, forward-thinking financial services company that seeks to create wealth for all stakeholders by capitalizing on emerging trends in the financial services sector and identifying early-stage future opportunities that are expected to generate a high rate of return for investors.

Securities Brokerage and Registered Investment Adviser Services are offered through Dominari Securities LLC, a Member of FINRA, MSRB and SIPC. Securities brokerage, investment adviser and other non-bank deposit investments are not FDIC insured and may lose some or all of the principal invested. You can check the background of Dominari Securities and its registered investment professionals and review its SEC Form CRS on FINRA's BrokerCheck site at https://brokercheck.finra.org. Information for Dominari Securities LLC and its registered investment professionals as well as its SEC Form CRS may also be found on FINRA's BrokerCheck site.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, which include but are not limited to the Risk Factors set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 relating to its business. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contacts:
Dominari Holdings Inc.
https://www.dominariholdings.com/
[email protected]

SOURCE Dominari Holdings Inc.

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