Republic Note, the profit-sharing digital asset issued by the global investment crowdfunding platform Republic, is scheduled to commence trading next week on December 6, 2023.
Republic Note has been a slow-moving digital security project that advances Republic’s mission of providing access to private markets for smaller investors.
This past Spring Republic issued the following statement on the Note:
“The Republic Note is a revenue-sharing asset. Upon a successful exit, over 600 companies feed into the dividend distribution pool—talk about diversification! The Republic ecosystem is bursting with hundreds of diverse private ventures across dozens of industries—from deep-tech to consumer, and everything in between. With future exits or IPOs, the Republic Note dividend distributions pool is powered by the success of those 600+ ventures.”
Around the same time, Republic announced the last investment opportunity for individuals, reporting over 3000 existing investors and approximately $900,000 in the dividend fund.
Republic explains that when a portfolio company experiences a liquidity event like an M&A or an IPO, some of the proceeds due to Republic are added to the fund. When the fund hits $2 million, distributions are made based on percentage ownership.
Republic Note is described as an “evergreen” fund that continuously grows as firms raise capital on Republic. At this time, there are approximately 623 companies as part of the fund.
Trading is expected to take place on INX (NEO: INXD, a company that Republic has invested in now holding a 9.5% stake in the firm.
Currently, Republic Note holds a stated value of $0.36/share and a market cap of $133 million.
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