The Cere token offering on Republic has quickly hit its max funding target of $26.3 million according to the offering page.
The security token offering reportedly went live at 10 AM ET this morning to intense demand – investor interest was so robust it was difficult for most interested investors to gain access to the offering. As it stands now, the only option is to place your name on a waiting list. The offering was listed under Reg D 506c and Reg S (international investors) and thus only accredited investors in the US could participate.
The offering page states that 2,526 investors backed the crypto offering that had a minimum investment of $1000. From comments on Twitter, it seems the deal sold out in under one hour.
The limited supply of the token upset some aspiring investors. But if you view it from an issuers perspective, the offering was a pretty huge success.
Cere Network originally said it will also list the token on a couple of other platforms and there is an expectation there will be a liquidity option for international investors so there may still be a way to get in if you are determined.
@cerenetwork The sale was over before it even started. I know this because I found the link 15 minutes before the sale started and I was number 7254 in line. If you clicked the link when Cere shared it the sale is already over. Insiders first always! $CERE
— Kvey (@Kveykva4664) April 13, 2021
$Cere token offering has sold out! 🚀
💫 WOW! This exceeded everyone’s expectations… The Cere offering was sold out within 35 minutes!
Big thanks to everyone involved, especially the @joinrepublic team for this flawless process.
Stay tuned for more announcements!
— Cere Network (@cerenetwork) April 13, 2021
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