REPUBLIC DIGITAL ACQUISITION

Ticker: RDAG CUSIP: G7515A103 Class: USD CL A ORD SHS

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (6)

Bulldog Investors, LLP

Value ($000) $486 Shares 48,000

Quarry LP

Value ($000) $506 Shares 49,992

StoneX Group Inc.

Value ($000) $748 Shares 73,886

ABC ARBITRAGE SA

Value ($000) $203 Shares 20,000

PenderFund Capital Management Ltd.

Value ($000) $107 Shares 10,600

Virtu Financial LLC

Value ($000) $1 Shares 66,008

Institution	Shares	Value ($000)
Bulldog Investors, LLP	48,000	$486
Quarry LP	49,992	$506
StoneX Group Inc.	73,886	$748
ABC ARBITRAGE SA	20,000	$203
PenderFund Capital Management Ltd.	10,600	$107
Virtu Financial LLC	66,008	$1

Increased Positions (12)

METEORA CAPITAL, LLC

Value ($000) $30,071 (+25.2%) Shares 2,970,000 (+26.2%)

Radcliffe Capital Management, L.P.

Value ($000) $2,699 (+83.6%) Shares 266,602 (+85.1%)

DLD Asset Management, LP

Value ($000) $1,688 (+32.2%) Shares 166,667 (+33.3%)

Periscope Capital Inc.

Value ($000) $3,151 (+2.9%) Shares 311,200 (+3.8%)

RIVERNORTH CAPITAL MANAGEMENT, LLC

Value ($000) $2,012 (+32.5%) Shares 198,750 (+33.6%)

GLAZER CAPITAL, LLC

Value ($000) $6 (+21.9%) Shares 583,682 (+22.9%)

TORONTO DOMINION BANK

Value ($000) $4,289 (+228.7%) Shares 423,600 (+231.4%)

D. E. Shaw & Co., Inc.

Value ($000) $7,984 (+160.6%) Shares 788,501 (+162.8%)

Verition Fund Management LLC

Value ($000) $6,042 (+7.5%) Shares 596,695 (+8.4%)

CANTOR FITZGERALD, L. P.

Value ($000) $552 (+17.1%) Shares 54,540 (+18.1%)

WOLVERINE ASSET MANAGEMENT LLC

Value ($000) $196 (+11.6%) Shares 19,391 (+12.5%)

MORGAN STANLEY

Value ($000) $1 (+161.2%) Shares 129 (+163.3%)

Institution	Prev Shares	Curr Shares	Change
METEORA CAPITAL, LLC	2,352,663	2,970,000	+617,337 (+26.2%)
Radcliffe Capital Management, L.P.	144,024	266,602	+122,578 (+85.1%)
DLD Asset Management, LP	125,000	166,667	+41,667 (+33.3%)
Periscope Capital Inc.	299,800	311,200	+11,400 (+3.8%)
RIVERNORTH CAPITAL MANAGEMENT, LLC	148,750	198,750	+50,000 (+33.6%)
GLAZER CAPITAL, LLC	475,000	583,682	+108,682 (+22.9%)
TORONTO DOMINION BANK	127,817	423,600	+295,783 (+231.4%)
D. E. Shaw & Co., Inc.	300,000	788,501	+488,501 (+162.8%)
Verition Fund Management LLC	550,463	596,695	+46,232 (+8.4%)
CANTOR FITZGERALD, L. P.	46,184	54,540	+8,356 (+18.1%)
WOLVERINE ASSET MANAGEMENT LLC	17,229	19,391	+2,162 (+12.5%)
MORGAN STANLEY	49	129	+80 (+163.3%)

Decreased Positions (9)

Harraden Circle Investments, LLC

Value ($000) $23,282 (-24.0%) Shares 2,299,466 (-23.3%)

Wealthspring Capital LLC

Value ($000) $8,069 (-6.9%) Shares 796,939 (-6.1%)

K2 PRINCIPAL FUND, L.P.

Value ($000) $1,222 (-40.1%) Shares 120,799 (-39.6%)

CSS LLC/IL

Value ($000) $3,503 (-11.7%) Shares 345,952 (-11.0%)

MIZUHO SECURITIES USA LLC

Value ($000) $292 (-72.0%) Shares 28,745 (-72.0%)

Shaolin Capital Management LLC

Value ($000) $1,924 (-5.8%) Shares 190,000 (-5.0%)

Clear Street Group Inc.

Value ($000) $393 (-43.9%) Shares 38,770 (-43.4%)

JPMORGAN CHASE & CO

Value ($000) $505 (-50.4%) Shares 49,840 (-50.0%)

UBS Group AG

Value ($000) $4 (-79.8%) Shares 370 (-79.7%)

Institution	Prev Shares	Curr Shares	Change
Harraden Circle Investments, LLC	2,999,466	2,299,466	-700,000 (-23.3%)
Wealthspring Capital LLC	848,500	796,939	-51,561 (-6.1%)
K2 PRINCIPAL FUND, L.P.	200,000	120,799	-79,201 (-39.6%)
CSS LLC/IL	388,581	345,952	-42,629 (-11.0%)
MIZUHO SECURITIES USA LLC	102,620	28,745	-73,875 (-72.0%)
Shaolin Capital Management LLC	200,000	190,000	-10,000 (-5.0%)
Clear Street Group Inc.	68,491	38,770	-29,721 (-43.4%)
JPMORGAN CHASE & CO	99,722	49,840	-49,882 (-50.0%)
UBS Group AG	1,819	370	-1,449 (-79.7%)

Exited Positions (2)

FIFTH LANE CAPITAL, LP

Value ($000) $1,946 Shares 190,592

Potrero Capital Research LLC

Value ($000) $1,532 Shares 150,000

Institution	Prev Shares	Prev Value ($000)
FIFTH LANE CAPITAL, LP	190,592	$1,946
Potrero Capital Research LLC	150,000	$1,532