Douglas Elliman Lists on the NYSE Under the Ticker Symbol “DOUG”
Douglas Elliman Inc. (NYSE: DOUG) has successfully completed its spin-off from Vector Group Ltd. (NYSE: VGR) and will begin trading independently on the NYSE under the symbol 'DOUG'. The company, a major player in the U.S. residential real estate market, boasts a robust balance sheet with $200 million in net cash and aims for growth through market expansion and technological advancements. As it stands alone, Douglas Elliman intends to leverage its competitive advantages and innovative services to thrive in high-demand luxury markets.
- Successfully spun off from Vector Group Ltd., marking a new chapter for growth.
- Strong balance sheet with $200 million of net cash available for expansion.
- Inclusion in S&P SmallCap 600, enhancing visibility and investment appeal.
- Potential dilution risks if additional shares are issued to fund obligations.
- No prior operating history as an independent public company may raise investor concerns.
Poised to Capitalize on Highly Attractive Dynamics in
As a standalone company, Douglas Elliman will leverage these core competencies and differentiated market focus to pursue profitable growth opportunities through market expansion, retention and recruitment of best-in-class talent and acquisitions and acqui-hires. Douglas Elliman will also source, use and invest in early-stage, disruptive property technology (“PropTech”) solutions and companies that easily integrate into its technology foundation, allowing Douglas Elliman to remain flexible, nimble and asset-light while providing cutting-edge solutions that improve client, customer and agent experience.
“Today marks an exciting new chapter for Douglas Elliman,” said
“We are thrilled that Douglas Elliman has reached this milestone – one that would not be possible without the hard work and dedication of our incredible agents and employees,” said
About
Investors and others should note that we may post information about Douglas Elliman on our website at www.elliman.com or, if applicable, on our accounts on Facebook, Instagram, LinkedIn,
Special Note on Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements include information relating to our intent, belief or current expectations, primarily with respect to, but not limited to, economic outlook, capital expenditures, cost reduction, cash flows, operating performance, growth expectations, competition, legislation and regulations, litigation, and related industry developments (including trends affecting our business, financial condition and results of operations).
Forward-looking statements can be identified by words or phrases such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may be,” “objective,” “opportunistically,” “plan,” “potential,” “predict,” “project,” “prospects,” “seek,” and “will be” and similar words or phrases or their negatives. Forward-looking statements involve important risks and uncertainties that could cause our actual results, performance or achievements to differ materially from our anticipated results, performance or achievements expressed or implied by the forward-looking statements. Further information on the risks and uncertainties to the business of Douglas Elliman include the risk factors described in the filings of Douglas Elliman with the
Factors that could cause actual results of Douglas Elliman to differ materially from those suggested by forward-looking statements include: general economic and market conditions, and any changes therein, due to acts of war and terrorism or otherwise; governmental regulations and policies; adverse changes in global, national, regional and local economic and market conditions, including those related to pandemics and health crises, such as the outbreak of COVID-19 and the impact of potential COVID-19 variants; the extent and timing of COVID-19 vaccine administration and the duration of the COVID-19 pandemic; Douglas Elliman’s ability to effectively manage the impacts of the COVID-19 pandemic and any government-mandated or encouraged suspension of our business operations; the impacts of the Tax Cuts and Jobs Act of 2017, including its impact on the markets of Douglas Elliman’s business; effects of industry competition; severe weather events or natural or man-made disasters, including increasing the severity or frequency of such events due to climate change or otherwise, or other catastrophic events may disrupt Douglas Elliman’s business and have an unfavorable impact on home sale activity; the level of Douglas Elliman’s expenses, including its corporate expenses as a stand-alone publicly-traded company; Douglas Elliman’s status as an emerging growth company; the tax-free treatment of the spin-off; Douglas Elliman’s lack of operating history as a public company and costs associated with being an independent public company; potential dilution to holders of Douglas Elliman’s common stock as a result of issuances of additional shares of common stock to fund its financial obligations and other financing activities; the failure of Douglas Elliman or
The forward-looking statements speak only as of the date they are made, and we disclaim any obligation to update or revise the forward-looking statements contained herein, except as otherwise required by applicable federal securities laws.
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For financial inquiries:
J. Bryant Kirkland III
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FAQ
What is the significance of Douglas Elliman's spin-off from Vector Group Ltd. (NYSE: VGR)?
What financial status does Douglas Elliman (NYSE: DOUG) have post spin-off?
How will Douglas Elliman (NYSE: DOUG) enhance its market presence?
Why is Douglas Elliman being included in the S&P SmallCap 600?
