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The Real Brokerage Inc. (TSXV: REAX, OTCQX: REAXF, NASDAQ: REAX) has announced an "Acceleration Notice" to Insight Venture Management for 4,321,712 Common Share purchase warrants, expiring June 30, 2021, at a price of $7.60 each. Additionally, a "Forced Exchange Notice" will convert preferred equity units into Common Shares on August 3, 2021, as part of a $20 Million investment from Insight Partners made in December 2020. This move follows Real's recent listing on the Nasdaq Capital Market on June 15, 2021, signaling significant financial activity for the company.
The Real Brokerage Inc. has commenced trading its Common Shares on the Nasdaq Capital Market under the symbol REAX as of June 15, 2021. This move follows a significant year-over-year growth, with a 90% increase in agent sign-ups, totaling over 2,300 agents. The company operates in 31 U.S. states and the District of Columbia, offering advanced technology that enhances the homebuying process for agents, buyers, and sellers. Additionally, the shares will continue trading on the TSX Venture Exchange under the same symbol.
Real Brokerage Inc. (REAXF) is set to list its common shares on The Nasdaq Capital Market starting June 15, 2021. Operating in 31 states, the company has witnessed a 90% year-over-year increase in agent sign-ups, totaling over 2,300. This listing is expected to enhance shareholder value by improving visibility and liquidity. However, it is contingent upon meeting regulatory requirements, including compliance with the SEC and Nasdaq criteria.
The Real Brokerage Inc. (TSXV: REAX, OTCQX: REAXF) has announced its expansion into Arizona, increasing its operational footprint to 31 states and the District of Columbia. Kimberly Ryan has been appointed as the regional growth leader, bringing extensive real estate experience. The company aims to enhance its agent support through advanced technology and training programs. Additionally, stock options and restricted share units were granted to certain officers, vesting over three years. The expansion reflects Real's commitment to growth in a competitive real estate market.
The Real Brokerage Inc. has announced a share consolidation of one post-consolidation share for every four pre-consolidation shares, aiming to satisfy Nasdaq listing requirements. This consolidation will reduce shares from approximately 143 million to around 35.8 million and is expected to take effect on June 1, 2021. The company must meet all listing criteria, including SEC registration, before officially listing on Nasdaq. Shareholders will receive instructions on exchanging their current shares for the new shares post-consolidation.
The Real Brokerage Inc. (TSXV: REAX, OTCQX: REAXF) has launched operations in New Hampshire, appointing Andy Armata as principal broker. Armata brings two decades of experience and over 25,000 transactions in New England. The company also announced a normal course issuer bid (NCIB) allowing the purchase of up to 7,170,190 common shares, approximately 5% of its outstanding shares, starting May 20, 2021. The acquisitions will support the company's Restricted Share Unit Plan aimed at benefiting designated participants.
The Real Brokerage Inc. (TSXV: REAX, OTCQX: REAXF) will present at the 16th Annual Needham Virtual Technology & Media Conference at 8:00 a.m. ET on May 18, 2021. A webcast will be available at this link. Additionally, Real granted 300,000 stock options to certain officers, vesting over three years, as part of its stock option plan. Real operates in 29 U.S. states and the District of Columbia, striving to create financial opportunities for agents through innovative technology, favorable commission splits, and equity incentives.
The Real Brokerage Inc. reported a remarkable 217% year-over-year revenue growth in Q1 2021, reaching US $9.3 million. The number of agents surged 82% to 1,895, with a notable addition of 255 agents in March, collectively generating US $20 million in trailing revenue. Despite these gains, the company reported a net loss of US $3.8 million compared to US $243 thousand in the same quarter last year. As of March 31, 2021, Real had $20.5 million in cash and operates across 29 states and D.C.
The Real Brokerage Inc. (TSXV: REAX, OTCQX: REAXF) expanded its operations to Nevada, partnering with Love Local Real Estate. This local real estate group achieved over 1,000 transactions and $300 million in sales in Las Vegas in 2020. The partnership aims to add over 100 new agents to Real's network, supported by the appointment of Bryan Jones as managing broker and Sean Mulcahy as growth leader. Real continues to grow, recently surpassing 2,000 agents nationally, marking a 90% increase since April 2020.
The Real Brokerage Inc. (REAXF) will release its Q1 2021 financial results on May 11, 2021, before market open, followed by a conference call at 11:00 a.m. EST. Real is a technology-driven real estate brokerage operating across 28 U.S. states and D.C., focusing on enhancing financial opportunities for agents through favorable commission splits and equity incentives. Investors can listen to the call via a dedicated webcast or dial-in options. Forward-looking statements within the release highlight potential growth and strategic plans while cautioning about inherent risks and uncertainties.
