Republic, the largest securities crowdfunding platform in the world, has announced a webinar next week to review its new approach to Republic Note.
Republic Note was originally designed to be a digital asset issued under the Reg A+ securities exemption. The security was designed to provide investors with income potential derived from the operation of the platform.
In the summer of 2020, Republic Note effectively sold out, receiving $16 million in commitments. Under Reg A+, an issuer may “test the waters” by accepting indications of interest for an offering prior to being listed. At the same time, a Reg D 506c offering was made available for accredited investors. It was previously reported that Reg D investors submitted interest amounting to $11 million, with retail committing to $5 million.
Under Reg A+, a securities offering must first be qualified by the Securities and Exchange Commission – something that never occurred. Ongoing chatter points to the SEC not approving anything that mentions blockchain technology.
Last month, Republic indicated Republic Note was going to be rebranded as Republic Core. Under Reg CF, the offering quickly raised $3 million.
Next week, on April 5, 2023, Republic CEO Kendrick Nguyen will be providing an update on “the next chapter” of Republic Note. Little additional information was provided.
If you are curious, you may register for the presentation here.
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