iFinex Inc, the Hong Kong-based parent company of crypto exchange Bitfinex, has proposed buying back $150 million worth of shares, according to a Tuesday report from Bloomberg. 

Documents reviewed by the publication reportedly show that iFinex offered its shareholders $10 per share for 15 million shares, valuing Bitfinex at $1.7 billion. The offer, which was put forth on Sept. 22, is contingent on the business receiving an influx of cash from one of its subsidiaries.

The proposal was addressed to shareholders of iFinex, who bought the stock in a 2016 swap arrangement with crypto investment platform BnkToThe Future. The swap arrangement followed the infamous Bitfinex hack, where Bitcoin worth $71 million at the time was stolen. 

As per the terms of the deal, the crypto exchange offered to make users whole by providing them with BFX tokens, which were redeemed by iFinex in exchange for shares in the company.

iFinex told Bloomberg that the buyback was a result of the company’s “positive performance” over the last few years. The firm also said that the buyback would help investors get out of a relatively illiquid investment and alleviate the demands on them to address scrutiny concerning Bitfinex’s regulatory applications. 

Among the parties who will be allowed to participate in the deal is shareholder Giancarlo Devasini, a former plastic surgeon who now acts as CFO for both Bitfinex and stablecoin issuer Tether.

Devasini is also one of the four people who controlled 86% of Tether as of 2018, according to documents reviewed by the Wall Street Journal earlier this year.