Republic Digital Acquisition Closes $300 Million IPO
Deal News | May 02, 2025 | EIN
Republic Digital Acquisition Company has successfully closed its initial public offering (IPO), raising $300 million by offering 30 million units at $10 each. The firm, which aims to identify opportunities in fintech, software, and cryptocurrency sectors, began trading on Nasdaq under the symbol RDAGU. Each unit comprises a Class A share and half a redeemable warrant, with warrants enabling purchase of additional shares at $11.50. Cantor Fitzgerald & Co. served as the sole book-runner. Proceeds are held in a trust, and the company, led by CEO Joseph Naggar, plans to pursue mergers or acquisitions in various industries. Forward-looking statements indicate potential but are subject to risk factors.
Sectors
- Financial Services
- Technology
Geography
- United States – The company is incorporated and listed in the United States. The IPO was managed by a U.S.-based firm, and regulatory oversight is provided by the SEC.
Industry
- Financial Services – The company is a blank check company focusing on mergers and acquisitions, primarily targeting industries such as fintech and cryptocurrency.
- Technology – The target industries for the company's acquisition strategy include fintech, software and cryptocurrency, placing it within the broader technology sector.
Financials
- $300,000,000 – Total gross proceeds from the initial public offering
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Republic Digital Acquisition Company | Target | Company | A blank check company aiming to pursue mergers or acquisitions in diverse industries, including fintech, software, and cryptocurrency. |
| Cantor Fitzgerald & Co. | Book-running Manager | Company | The financial services firm acted as the sole book-running manager for the IPO. |
| Joseph Naggar | Chief Executive Officer | Person | He is the CEO, Chief Investment Officer, and Director of Republic Digital Acquisition Company. |
| Ian Goodman | Chief Financial Officer | Person | He is the CFO of Republic Digital Acquisition Company. |
| Jonathan Knipper | Chief Operating Officer | Person | He is the COO of Republic Digital Acquisition Company. |
| Darren Sandler | General Counsel | Person | He serves as General Counsel for Republic Digital Acquisition Company. |
| Andrew Durgee | Board Member | Person | He is a member of the Board of Directors of Republic Digital Acquisition Company. |
| Barry Finkelstein | Board Member | Person | He is a member of the Board of Directors of Republic Digital Acquisition Company. |
| Laya Khadjavi | Board Member | Person | She is a member of the Board of Directors of Republic Digital Acquisition Company. |
| Robert Matza | Board Member | Person | He is a member of the Board of Directors of Republic Digital Acquisition Company. |
| U.S. Securities and Exchange Commission (SEC) | Regulatory Body | Government | The SEC registered the company's IPO, and it oversees securities markets in the United States. |