Lockups
Lockup details: 2020 Reg D Note offering
Will all of my Republic Notes be tradeable once I receive them?
Only 15% will be available at listing. To help ensure a smooth listing, your Republic Notes purchased in 2020 will be released on a gradual schedule: 15% are released at listing, and the rest are released monthly over 11 months. This means that while you will see all of your Republic Notes in your Wallet and still have all the benefits associated with holding your Note balance, only 15% of them will be transferable on the first month of listing.
If you invested in an additional Republic Note offering in 2023, these Republic Notes will be restricted by US Securities Law to not be transferable for the one year following the closing date of the offering. You may visit the offering page through your portfolio and check out the offering closing date to find out the time at which you may start trading your Republic Notes.
How does the gradual release schedule work?
All Republic Notes will be under the same gradual release schedule at listing, with 15% of the purchased Republic Notes being released and transferable on the first day of listing. The remainder of your Republic Notes will be released monthly over the next 11 months (7.73% per month), with the full purchased balance being completely transferable one year from the listing date.
Why not allow me to sell all Notes at once?
Having only a portion of pre-purchased securities available for trading at the early stages of secondary listing is a common practice to maintain stability in the Republic Note’s price and avoid a significant price drop in anticipation that privately purchased Republic Notes would flood the market. A gradual release schedule is implemented to protect the overall interest of the Republic Note investor community, while still allowing for a portion of pre-purchased Notes to be listed for investors seeking liquidity.
Can I purchase more Republic Notes despite my tokens being unlocked?
Yes, you can purchase additional Republic Notes on our partner secondary trading platform. These newly purchased Republic Notes will be freely transferable upon purchase.
How can I trade my Republic Notes once they are unlocked?
You can trade the Republic Notes on our partner secondary trading platform after they have been unlocked. We will provide more guidance and instructions closer to the listing event.
What can I do with my Republic Notes if they are locked?
The Republic Note is a revenue-sharing and community-driven token that allows you to benefit from the upside of certain investments by Republic and other perks provided by Republic. You are entitled to the full range of benefits, including the dividend distributions, by holding the Republic Notes in your Republic Wallet, regardless of their lockup status.
Is any transfer of ownership possible within the “locked” period?
US securities laws allow for certain exceptions to the transfer restriction rules, such as to a member of the family of the Investor or the equivalent, to a trust controlled by the Investor, to a trust created for the benefit of a member of the family of the Investor or the equivalent, or in connection with the death or divorce of the Investor or other similar circumstances. If you need to make a transfer under any of the aforementioned circumstances, please reach out to our investor support team.
If you have any other questions, please email our team at note-support@republic.co.
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