Republic will acquire around a 9.5% stake in INX at an approximate $50 million pre-money valuation, with a “non-binding” commitment to acquire of 100% of equity at a valuation of $120 million as early as third quarter of this year. The closing of the initial deal is expected to be within 60 days, subject to regulatory approval.
Investment Firm Republic Buys Stake in SEC-Regulated Broker-Dealer INX at $50M Valuation
