Republic Digital Acquisition Company Announces the Pricing of Upsized $264,000,000 Initial Public Offering

Rhea-AI Summary

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.

Positive

• Successful upsized IPO raising $264 million at $10.00 per unit
• Additional potential capital of $39.6M through underwriters' over-allotment option
• Listing on major exchange (Nasdaq)
• Management team includes experienced fintech and investment professionals
• Strategic focus on high-growth sectors: fintech, software, and cryptocurrency

Negative

• Blank check company with no current business operations
• No guaranteed successful business combination target
• Warrants may cause future dilution if exercised
• High-risk investment dependent on management's ability to find suitable acquisition target

Insights

Financial Analyst specializing in SPACs

Republic Digital Acquisition Company's $264M SPAC IPO provides acquisition capital for fintech, software, and crypto targets, with standard SPAC structure and terms.

Republic Digital Acquisition Company has successfully priced its $264 million SPAC IPO at $10.00 per unit, with each unit containing one Class A ordinary share and one-half of one redeemable warrant. The company describes itself as a blank check company formed to merge with or acquire businesses, with a stated focus on the fintech, software, and cryptocurrency industries.

The IPO structure follows standard SPAC parameters: $10.00 per unit pricing, warrants exercisable at $11.50, and proceeds deposited into a trust account. The company has also granted underwriters a 45-day option to purchase up to an additional 3,960,000 units to cover over-allotments, potentially increasing the total raised.

Trading will commence on Nasdaq under the symbol "RDAGU" on May 1, 2025, with the Class A ordinary shares and warrants later trading separately as "RDAG" and "RDAGW" respectively. Cantor Fitzgerald & Co. is serving as the sole book-running manager for the offering, which is expected to close on May 2, 2025.

The management team is led by Joseph Naggar (CEO, CIO, and Director) and Ian Goodman (CFO), with board members including Andrew Durgee, Barry Finkelstein, Laya Khadjavi, and Robert Matza. As with all SPACs, the company now faces the task of identifying and completing a business combination that will determine the ultimate outcome for investors.

Fintech/Cryptocurrency Expert

New $264M SPAC focuses on fintech, software, and cryptocurrency sectors, creating potential acquisition opportunities in these digital industries.

Republic Digital Acquisition Company's $264 million IPO introduces significant acquisition capital specifically targeting the fintech, software, and cryptocurrency industries. This development represents a new potential pathway to public markets for private companies operating in these sectors.

The SPAC's explicit focus on digital industries aligns with ongoing digital transformation trends. For companies in these spaces seeking capital or public market access without pursuing traditional IPO routes, this newly-funded acquisition vehicle could present an alternative option.

The company's board includes Andrew Durgee, whose appointment suggests the SPAC is incorporating relevant perspective for evaluating opportunities in their target sectors. The management team is led by Joseph Naggar as CEO/CIO and Ian Goodman as CFO.

The $264 million in trust provides substantial acquisition capacity, though the press release doesn't specify a timeline for identifying or completing a business combination. As with all SPACs, the value proposition depends entirely on management's ability to identify and successfully combine with an appropriate target company.

For investors and industry participants in the fintech, software, and cryptocurrency spaces, this SPAC represents a new potential player in the M&A landscape, though its actual impact will only become clear once an acquisition target is identified and a combination completed.

New York, NY, April 30, 2025 (GLOBE NEWSWIRE) -- Republic Digital Acquisition Company (the “Company”) announced today the pricing of its upsized initial public offering of 26,400,000 units at a price of $10.00 per unit. The units are expected to be listed on The Nasdaq Global Stock Market LLC (“Nasdaq”) and begin trading on May 1, 2025, under the ticker symbol “RDAGU.” Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to certain adjustments. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. An amount equal to $10.00 per unit will be deposited into a trust account upon the closing of the offering. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “RDAG” and “RDAGW,” respectively. The offering is expected to close on May 2, 2025, subject to customary closing conditions. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,960,000 units at the initial public offering price to cover over-allotments, if any.

The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry but expects to focus on a target in fintech, software and cryptocurrency industries.

The Company’s management team is led by Joseph Naggar, the Chief Executive Officer, Chief Investment Officer and Director, and Ian Goodman, its Chief Financial Officer. The Board of Directors also includes Andrew Durgee, Barry Finkelstein, Laya Khadjavi and Robert Matza.

Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59^th Street, New York, New York 10022, or by email at prospectus@cantor.com, or by accessing the SEC’s website, www.sec.gov.

A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on April 30, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the expected closing of the proposed initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all.

Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Investor Contacts

Republic Digital Acquisition Company
RDAC-PR@republic.co

FAQ

How much did Republic Digital Acquisition Company (RDAGU) raise in its IPO?

Republic Digital Acquisition Company raised $264 million through an upsized IPO, pricing 26.4 million units at $10.00 per unit. The offering includes an additional 45-day option for underwriters to purchase up to 3.96 million units to cover over-allotments.

When will RDAGU units start trading on Nasdaq?

RDAGU units are expected to begin trading on Nasdaq on May 1, 2025, under the ticker symbol 'RDAGU'. The offering is scheduled to close on May 2, 2025, subject to customary closing conditions.

What do RDAGU units include in the IPO offering?

Each RDAGU unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant allows holders to purchase one Class A ordinary share at $11.50 per share. Only whole warrants will trade.

What industries will Republic Digital Acquisition Company (RDAGU) target for business combination?

While RDAGU may pursue opportunities in any business or industry, it plans to focus primarily on targets in the fintech, software, and cryptocurrency industries for potential business combinations.

What happens to RDAGU trading symbols after units separate?

After the units begin separate trading, the Class A ordinary shares will trade under 'RDAG' and the warrants under 'RDAGW' on Nasdaq.