Republic Digital is a Special Purpose Acquisition Company (SPAC) with no operations, revenue, or employees beyond its management team. Republic Digital raised $300M in its May 2025 IPO and placed those funds in a Trust Account, which held approximately $308M as of December 31, 2025, reflecting accumulated interest. The company's sole purpose is to identify and merge with a private company, effectively taking it public. Republic Digital is focused on fintech, software, and cryptocurrency sectors — specifically targeting companies that provide infrastructure, tools, or services for blockchain and digital assets — though it is not legally restricted to these sectors. The management team is led by CEO Joseph Naggar, CFO Rob Urgo, and COO Jonathan Knipper, all affiliated with Feynman Point Asset Management, an investment manager with roots in digital assets and Web3 investing. Republic Digital must complete an acquisition by May 2027 or return Trust Account funds to shareholders. Public shareholders can redeem shares at approximately $10.26 per share if they choose not to participate in a deal. The sponsor and management received Founder Shares at nominal cost, which convert to roughly 20% of the combined company upon a business combination, creating an incentive to complete a deal regardless of deal quality. If no deal closes by the deadline, the Trust Account is liquidated, and the Founder Shares and Private Placement Warrants become worthless.