Investment firm Republic is buying a stake in SEC-regulated Broker-Dealer INX for $50 million

Republic will acquire approximately 9.5% of INX at a price of approximately $50 million pre-money, with a “non-binding” commitment to acquire 100% of the equity at a $120 million valuation as early as the third quarter of this year. The initial transaction is expected to close within 60 days, subject to regulatory approval. Source Link