Republic Europe, formerly Seedrs, is expected to soon list SpaceX Mirror Notes on the UK based platform.
Mirror Tokens or Mirror Notes (for the UK) are digital assets that match the price and performance of private securities. The aim is to provide access to promising private firms for smaller investors prior to an initial public offering (IPO) or other exit event.
The token offering, called rSPAX, is structured as a Contingent Payout Note issued under Reg D in the US – only accessible for Accredited Investors. Previously, it was expected the offering would be made available to retail investors by leveraging Reg CF but apparently Republic changed its mind. In the UK, retail investors must meet Republic Europe’s suitability requirements to participate.
Mirror Notes are also a form of debt security issued by RepublicX and created to track the financial performance without direct shareholding. As SpaceX is a more mature private firm, this will provide Republic Europe investors access to a less risky investment when compared to a startup. These types of investments are typically only accessible to more affluent investors.
On Republic Europe, investments in the SpaceX derived asset will start at £20. The offering in the UK is expected to be made available soon.
To kick things off, Republic co-CEO and founder Kendrick Nguyen will be holding a webinar tomorrow.
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