Investment Firm Republic Buys Stake in SEC-Regulated Broker-Dealer INX at $50M Valuation

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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.

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