Republic, the world’s largest online investment platform serving private securities, will close its first offer for a Mirror Token, which represents shares in Elon Musk’s company SpaceX. The valuation of SpaceX is around $400 billion and is one of the world’s most valuable startups.
SpaceX is the most successful space firm in the US and has developed a series of reusable rockets. The company is also operating StarLink, a global satellite internet provider.
A Mirror Token is not actual shares in a business but reflects the value of the shares. Labeled rSPAX, these assets are being issued under Reg D in the US.
The reference prices have been set at $275/each and are designed as a “contingent payout note.”
Investors will hold the rSPAX tokens in their Republic Wallet, and the company plans to enable secondary transactions for investors at some point in the future.
At some point, SpaceX will have an event that may enable holders of rSPAX to benefit from an increase in the company’s valuation.
Republic Europe, formerly Seedrs, also offered a similar opportunity for their investors, setting a target of £750,000. Currently, the offering page indicates over £1 million has been invested.
The deadline is midnight (PST) today to invest.
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