On November 10, The Block reported that Republic Technologies (Canadian Securities Exchange stock code: DOCT) announced on Monday that it has obtained $100 million in zero-coupon Convertible Bonds from a "leading institutional investor" to expand its node business and increase its Ethereum assets. More than 90% of the funds raised will be used for the acquisition of ETH, with the first tranche of $10 million already initiated.
Republic revealed that this transaction includes a 50% warrant coverage, all priced at market value, avoiding the deep discount issues that have plagued peers like BitMine Immersion and BTCS, and defined the terms as "cash flow neutral," allowing for capital deployment without the need to service debt.
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On November 10, The Block reported that Republic Technologies (Canadian Securities Exchange stock code: DOCT) announced on Monday that it has obtained $100 million in zero-coupon Convertible Bonds from a "leading institutional investor" to expand its node business and increase its Ethereum assets. More than 90% of the funds raised will be used for the acquisition of ETH, with the first tranche of $10 million already initiated.
Republic revealed that this transaction includes a 50% warrant coverage, all priced at market value, avoiding the deep discount issues that have plagued peers like BitMine Immersion and BTCS, and defined the terms as "cash flow neutral," allowing for capital deployment without the need to service debt.