Dear Investors,

The Republic Note has exposure to an incredibly unique set of portfolio companies and can continue to generate dividends when any of those companies exit. Right now the dividend pool has over $900K waiting to be distributed. Today we wanted to share some of the largest contributions to the dividend pool so far.

[REMINDER: ONLY A FEW DAYS LEFT TO INVEST IN OUR LIVE OFFERING HERE]

For current investors: we've seen a lot of requests to increase investment amounts and if you're having trouble doing so, please send a quick email to note-support@republic.co.

DAPPER LABS: + $511k [Republic Capital]

Dapper Labs brings the power of play to the blockchain. Here’s how Republic Capital’s investment in this web3 giant powered big inflows to the dividend pool for Republic Note holders.

• In 2020, Republic Capital deployed $490K into Dapper Labs’ FLOW token

• 31 months later, Republic Capital liquidated its position at a ~88X net return for investors

• Of the carried interest earned by Republic Capital, $511K was added to the Republic Note dividend pool

ROBINHOOD: +$105k [Republic Capital]

Robinhood revolutionized stock trading for retail investors. Here’s how Republic Capital’s investments in this financial markets unicorn will impact Republic Note dividend distributions.

• Between 2020-2021, Republic Capital deployed ~$37M into primary and secondary offerings of Robinhood stock 

• By early 2022, Republic Capital liquidated its entire position in Robinhood

• Of the carried interest earned by Republic Capital, $105K was added to the Republic Note dividend pool

SHIPROCKET: +$94k [Republic Capital]

Shiprocket is India's most popular eCommerce shipping and logistics provider. Republic Capital made its first investment in early 2020 and doubled down on its commitment later that year. 

• In January 2020, Republic Capital invested $1.33M, followed by another $735K in October 2020

• In July 2022, Republic Capital liquidated its first position, returning $7.8M to investors (net of fees and expenses)

• Of the carried interest earned by Republic Capital, $94K was added to the Republic Note dividend pool

[REMINDER: ONLY A FEW DAYS LEFT TO INVEST IN OUR LIVE OFFERING HERE]

Additional disclaimers:

The examples above represent investments that resulted in net positive contributions to the Republic Note dividend pool. Please note that investments are risky, can result in total loss of capital, and may be impossible to resell. Many of Republic Retail’s and Republic Capital’s positions may never contribute any revenue to the Republic Note dividend pool. Read about risks. Past performance does not predict future results.

The above companies are selected as a sample of Republic Capital's investments, constituting "value add" strategic investments placed by Republic Capital Adviser LLC. In each case, Republic Capital or its affiliates hold a board or board observer seat, has introduced a keystone client or investor, or has provided material support outside of its investment of capital to the applicable portfolio company. Past performance is not necessarily indicative of future performance. It should not be assumed that recommendations made in the future will be profitable or equal to that of the performance of the securities selected. For more information on Republic Capital's investments, view our most recently filed Form ADV, dated March 31, 2023, here.

Republic Core LLC (“Core”) provides technology and support services to OpenDeal Inc. and its affiliates (collectively, the “Republic Ecosystem”). Republic Note holders and as well as users of the site and services maintained by the Republic Ecosystem, regardless of and their activities on or relating to the Republic Ecosystem, are subject to the applicable terms of service, in their entirety. Core cannot give investment advice, analysis or recommendations with respect to any securities, and is not a registered broker-dealer, funding portal or investment adviser. Securities offerings displayed by Core may be facilitated by its affiliates, OpenDeal Portal LLC d/b/a Republic Funding Portal, or OpenDeal Broker LLC (f/k/a NextSeed Securities LLC) d/b/a The CapitalR, Republic Maximal LLC and its affiliates (together with Republic Capital Advisor LLC, dba Republic Capital), Republic Deal Room Advisor LLC or by any third-party issuer. Please notify the sender immediately if you have received this e-mail by mistake, then delete it.