On Aug. 5, Republic, a platform for investing in startups, announced that it had sold out commitments for coming fundraises for its security token, Republic Note, happening under two distinct exemptions.
The firm is in total looking to raise $16 million - $11 million already committed under Reg.
D, with another $5 million earmarked from public investors waiting for a Reg.
Speaking with Cointelegraph, Republic CEO Kendrick Nguyen outlined the plan that "Investors from the Reg. D will get rolled into the Reg. A+.".
Aiming to bridge the gap between main-street investors and venture capital opportunities, Reg.
In contrast to the more punitive means of monitoring Reg.
Republic's plan of switching is highly unusual but "It's actually possible," said Anthony Tu-Sekine, a partner at Seward & Kissel and the head of that firm's Blockchain and Cryptocurrency Group.
"Republic will need to make sure that they keep those two separate, or they at least need to make sure that the Reg. D public notes are not somehow intermingled with freely tradeable public notes."
The plan, according to Nguyen, is that Republic will be able to move investments made under Reg.
It's a fascinating plan, and likely the fact that Republic itself is an investment platform played into the firm's comfort working with various SEC rules.
Here's What's Actually Going on With the SEC and Republic's STO
Published on Aug 7, 2020
by Cointele | Published on Coinage
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