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Republic Technologies completed a $100 million zero-interest financing to increase its holdings in Ethereum.
On November 10, according to The Block, 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 validation node business and increase its Ether assets. More than 90% of the fundraising will be used to acquire ETH, with the first phase of $10 million already initiated. Republic revealed that this transaction includes a 50% warrant coverage, all priced at market rates, avoiding the deep discount issues that have previously plagued peers such as BitMine Immersion and BTCS, and defined the terms as “cash flow neutral,” allowing it to deploy capital without debt repayment.