The company is focused on developing AI technologies to streamline the homebuying process and aims to expand its market presence. The new warrants were offered in a private placement, exempt from registration under the Securities Act of 1933. reAlpha plans to file a registration statement with the SEC for the resale of shares from the new warrants. The announcement includes forward-looking statements about the company's future operations and market strategies, with a cautionary note on potential risks and uncertainties.
Key takeaways:
- reAlpha Tech Corp. announced the exercise of warrants for $3.1 million in gross proceeds, with a reduced exercise price of $0.75 per share.
- The company will issue new unregistered warrants to purchase up to 8,437,502 shares of common stock, exercisable at $0.75 per share, expiring on November 24, 2028.
- The offering is expected to close on or about April 8, 2025, with net proceeds intended for general working capital purposes.
- Forward-looking statements highlight risks such as reAlpha's ability to commercialize AI technologies and secure adequate financing.