BlockBeats News, November 10th, according to The Block, Republic Technologies (Canada Stock Exchange ticker: DOCT) announced on Monday that it has secured $100 million in zero-coupon convertible bonds from a “leading institutional investor” to expand its validation node business and increase its Ethereum holdings. Over 90% of the funds will be used to acquire ETH, with an initial tranche of $10 million already launched. Republic revealed that the deal includes 50% warrant coverage, all priced at market value, avoiding the deep discounts that previously troubled peers like BitMine Immersion and BTCS, and structuring the terms as cash flow neutral, allowing capital deployment without debt repayment.
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Republic Technologies obtains $100 million zero-coupon convertible bonds to increase Ethereum holdings
BlockBeats News, November 10th, according to The Block, Republic Technologies (Canada Stock Exchange ticker: DOCT) announced on Monday that it has secured $100 million in zero-coupon convertible bonds from a “leading institutional investor” to expand its validation node business and increase its Ethereum holdings. Over 90% of the funds will be used to acquire ETH, with an initial tranche of $10 million already launched. Republic revealed that the deal includes 50% warrant coverage, all priced at market value, avoiding the deep discounts that previously troubled peers like BitMine Immersion and BTCS, and structuring the terms as cash flow neutral, allowing capital deployment without debt repayment.