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Republic Digital Acquisition Company has successfully completed its initial public offering (IPO) of 30,000,000 units at $10.00 per unit, raising gross proceeds of $300 million. The units, trading under symbol RDAGU on Nasdaq, consist of one Class A ordinary share and one-half redeemable warrant, with each whole warrant exercisable at $11.50 per share.
The company is a blank check company (SPAC) focused on acquiring businesses in the fintech, software, and cryptocurrency industries. The management team is led by CEO Joseph Naggar, with $300 million placed in a trust account. The Class A shares and warrants will eventually trade separately under symbols RDAG and RDAGW, respectively. Cantor Fitzgerald & Co. served as the sole book-running manager for the offering.
Republic Digital Acquisition Company has priced its upsized IPO at $264 million, offering 26.4 million units at $10.00 per unit. Each unit includes one Class A ordinary share and half a redeemable warrant, with whole warrants allowing purchase of shares at $11.50.
Trading begins May 1, 2025, on Nasdaq under symbol "RDAGU". The units will later separate into shares (RDAG) and warrants (RDAGW). The company granted underwriters a 45-day option for 3.96 million additional units.
As a blank check company, Republic Digital aims to merge or acquire businesses, focusing on fintech, software, and cryptocurrency sectors. The management team is led by CEO Joseph Naggar and CFO Ian Goodman, with Cantor Fitzgerald serving as sole book-running manager.
The IPO is expected to close May 2, 2025, with $10.00 per unit deposited in trust.
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