Appleby are pleased to have acted as Cayman Islands counsel for Republic Digital Acquisition Company (NASDAQ: RDAGU) (the Company), alongside Ellenoff Grossman & Schole LLP, in its initial public offering (IPO) of 30,000,000 units, which includes 3,600,000 units issued pursuant to the exercise by the underwriters of their over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $300,000,000.
The Company's units began trading on May 1, 2025 on the Nasdaq Global Stock Market LLC (Nasdaq) under the ticker symbol "RDAGU." Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. 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 Appleby corporate team included Partner Simon Raftopoulos and Counsel Alexandra Low.