Republic Technologies Proposes $100 Million Convertible Note Facility Backed by ETH Collateral

Republic Technologies Inc. has proposed entering a financing agreement with an institutional investor for a secured convertible note facility of up to US$100 million. The facility features an initial US$10 million tranche and is structured with a 24-month term, 0% interest rate, and a 10% original issue discount. According to the company's announcement, the notes would be backed by ETH collateral and convertible into common shares at the CSE closing price prior to conversion, subject to exchange policies.

If completed, the financing is expected to support Republic Technologies' blockchain-based attestation platform and validator infrastructure. The company plans to allocate net proceeds toward acquiring ETH to bolster validator operations and for general working capital purposes. This substantial capital infusion comes as the company seeks to expand its position in the blockchain infrastructure sector, where it operates proprietary validator and attestation networks designed to safeguard data integrity for universal applications.

The proposed facility represents a significant financial commitment to Republic Technologies' vision of integrating Ethereum infrastructure into the global economy. The company's approach centers on leveraging its ETH-denominated treasury to support its operational framework. More information about the company's broader strategy and operations can be found at https://republictech.io/.

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This financing proposal comes at a time when blockchain infrastructure companies are seeking capital to expand their validator networks and attestation services. The structure of the facility, with its ETH-backed collateral and conversion features, reflects the specialized financial instruments emerging in the cryptocurrency sector. The successful completion of this facility could position Republic Technologies to accelerate its infrastructure development and expand its validator operations, potentially increasing its capacity to serve applications requiring secure data attestation on blockchain networks.