Republic Digital Acquisition Company (Nasdaq:RDAGU) raised $300 million in an initial public offering (IPO) last week at $10 per share.
The SPAC deal was initially reported to have raised $264 million. However, after the float was completed and the underwriters’ allotments were filled, the sale amount was pegged higher.
Republic Digital Acquisition, part of Republic, the private online capital formation firm, aims to acquire a crypto or Fintech firm within the next 24 months.
This is an interesting turn of events for Republic as it seeks to benefit from the shift in policy following the election of Donald Trump as President. As the Biden Administration sought to undermine digital asset innovation, the Trump administration has welcomed the sector of finance thus paving the way for development and broader utilization.
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