Republic Note, a digital asset that provides purchasers with a portion of the income generated by the investment crowdfunding platform, has sold out receiving $16 million in commitments.
The offering is being made via Reg D 506c (accredited only) and as a “testing the waters” offering under Reg A+. While the Reg A+ has not yet been qualified, it is anticipated that it will receive SEC approval soon.
Reg D investors generated the bulk of the investment committing $11 million. Reg A+ investors, probably all non-accredited, have committed $5 million.
Republic is an online investment platform that was launched with the goal of providing access to capital to underserved markets as well as investment opportunities to all investors typically not made available to the masses. Republic Note will generate income for investors depending on the success of the company. The profit-sharing token easily topped $10 million in the first 5 days of going live on Republic.
🔥🔥 SOLD OUT #RepublicNote scored $11 million in accredited investor subscriptions and $5 million in reservations of interest by non-accredited investors. 10,000 participants. 100 countries. 1,000 waitlisted. 🔥🔥
— Republic (@joinrepublic) August 6, 2020
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