Republic Invests $5.25 Million into INX at a Valuation of $50 Million

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The INX Digital Company, Inc., a US-regulated broker-dealer, ATS, and transfer agent, has announced the successful conclusion of its initial investment phase with OpenDeal Inc., also known as Republic. This development comes as part of the Subscription Agreement dated June 15, 2023, between the two entities. Republic, a renowned global financial firm, has acquired 9.5% of INX's shares with an investment of US$5.25 million, reflecting a pre-money valuation for INX of approximately US$50 million.

This collaboration aims to expand the scope of tokenization infrastructure and democratize access to digital assets globally. Following this investment, both INX and Republic are considering a non-binding term sheet related to the potential acquisition of all issued and outstanding share capital of INX by Republic, which could amount to up to US$120 million.

Shy Datika, CEO of INX, emphasized the significance of this partnership, stating, «This is more than just a business investment; it's an investment in the future, which begins with a deep-rooted collaboration to reshape the global financial landscape.»

Kendrick Nguyen, CEO of Republic, mirrored this sentiment, highlighting the broader vision of reimagining how both institutional and retail investors engage with digital finance.

The collaboration between Republic and INX encompasses a Subscription Agreement, facilitating a synergy of cash and shares, and a Collaboration Agreement. This partnership aims to:

INX has also engaged Weild Capital, LLC to act as its financial advisor in connection with the Republic investment. David Weild, the principal of Weild Capital, LLC, serves as the chairman of the INX board.

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