We have raised money over the past few years for the development of the Republic Note. Early investors in the Republic Note have paid between 6 and 10 cents for rights to the Republic Note as part of private pre-sales to help the Note’s development.
We also conducted an offering of the Republic Note to accredited investors in 2020 via Rule 506(c) of Regulation D under the Securities Act of 1933 at 12 cents per Note. At the same time, we received $17 million in reservation from our community members at this price. We rolled out a limited allocation of $3 million to meet this interest at a later date.
In addition to this ongoing offering, in the future we hope to give away some Republic Notes for “free” in exchange for your engaging and participating on the Republic platform, provided regulatory approval under Regulation A.