ETHZilla updates on $250M buyback, draws $50M from ETH-backed facility, holds 102K ETH

FORUM MARKETS Inc

Board authorized $250M stock repurchase program on Aug 22, 2025; repurchased ~6.0M shares in Sep at avg $2.50/share.
Entered OTC facility with Cumberland DRW for up to $80M collateralized by ETH; drew $50M on Sep 8 to fund buybacks.
Total ETH & ETH equivalents: 102,255 units valued at ~$460M (avg acquisition price $3,948.72).
Holds ~$228M in USD cash equivalents; total treasury value ~$690M as of Sep 12, 2025.
Deploying ETH into L2 staking protocols; minted first EtherFi ETH, targeting compounded yield for NAV growth.

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