Republic Pursue SPAC Deal with $264M IPO Launch
Deal News | May 01, 2025 | EIN
Republic, recognized as the largest securities crowdfunding platform globally, has embarked on a significant SPAC deal with the establishment of the Republic Digital Acquisition Company. Announcing an IPO that successfully raised $264 million, the company aims to target mergers in the Fintech, software, and crypto sectors. With a keen focus on institutional-grade digital asset management, this initiative ensures liquidity and efficiency in crypto trading. Trading on Nasdaq under RDAGU, the IPO encompasses 26,400,000 units priced at $10 each, alongside an option for underwriters to acquire an additional 3,960,000 units. With expertise drawn from prominent figures in finance and technology, including Joseph Naggar and Ian Goodman, Republic expands its digital asset ecosystem, positioning itself as a prominent player amidst a shifting regulatory landscape that sees increasing support for digital assets.
Sectors
- Fintech
- Cryptocurrency
- Software
Geography
- United States – The Republic and its SPAC venture are based in the U.S., and its dealings are influenced by regulatory shifts in the U.S. market.
Industry
- Fintech – Involves financial technology solutions; Republic Digital Acquisition is targeting mergers or acquisitions in the Fintech space.
- Cryptocurrency – Relates to digital or virtual currency; Republic's SPAC plans to focus on digital asset management and crypto trading efficiency.
- Software – Applies to digital and software development; Republic Digital Acquisition mentions targeting the software sector as part of its SPAC deal.
Financials
- $264,000,000 – Funds raised through the IPO of Republic Digital Acquisition Company.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Republic | Target company | Company | The largest securities crowdfunding platform leading the SPAC deal. |
| Republic Digital Acquisition Company | Bidding company | Company | A SPAC launched by Republic to target mergers in the Fintech, software, and crypto sectors. |
| Joseph Naggar | CEO | People | Current CEO and Chief Investment Officer of Republic Digital Acquisition Co. |
| Ian Goodman | CFO | People | Chief Financial Officer of Republic Digital Acquisition Co. |
| Doug Ellenoff | Legal advisor | People | Managing partner at Ellenoff, Grossman, and Schole responsible for structuring the deal. |