Republic will purchase round a 9.5% stake in INX at an approximate $50 million pre-money valuation, with a “non-binding” dedication to accumulate of 100% of fairness at a valuation of $120 million as early as third quarter of this yr. The closing of the preliminary deal is anticipated to be inside 60 days, topic to regulatory approval.
Funding Agency Republic Buys Stake in SEC-Regulated Dealer-Seller INX at $50M Valuation
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