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reAlpha Tech | 8-K: Current report

SEC announcement ·  May 7 05:26
Summary by Futu AI
On May 6, 2024, reAlpha Tech Corp., a real estate technology company specializing in artificial intelligence, announced the completion of its acquisitions of Naamche, Inc., a Delaware corporation, and Naamche, Inc. Pvt. Ltd., a Nepal-based corporation. The acquisitions, which were first agreed upon in December 2023 and later amended in February 2024, were finalized after receiving regulatory approval from the Department of Industries of Nepal and satisfying other closing conditions. With this move, reAlpha has acquired 100% of the issued and outstanding shares of Naamche, making both entities wholly-owned subsidiaries. The acquisition adds 43 AI engineers, developers, UX designers, and creatives to reAlpha's team, enhancing its product portfolio and research and development capabilities. This includes the integration of Naamche's AI and machine...Show More
On May 6, 2024, reAlpha Tech Corp., a real estate technology company specializing in artificial intelligence, announced the completion of its acquisitions of Naamche, Inc., a Delaware corporation, and Naamche, Inc. Pvt. Ltd., a Nepal-based corporation. The acquisitions, which were first agreed upon in December 2023 and later amended in February 2024, were finalized after receiving regulatory approval from the Department of Industries of Nepal and satisfying other closing conditions. With this move, reAlpha has acquired 100% of the issued and outstanding shares of Naamche, making both entities wholly-owned subsidiaries. The acquisition adds 43 AI engineers, developers, UX designers, and creatives to reAlpha's team, enhancing its product portfolio and research and development capabilities. This includes the integration of Naamche's AI and machine learning expertise, which has already contributed to reAlpha's commission-less AI platform for real estate property buyers, named Claire. The transaction is part of reAlpha's strategy to expand its capabilities in AI-powered real estate solutions. The terms of the acquisition included a combination of cash and equity, as detailed in reAlpha's Current Reports filed with the SEC on December 4, 2023, and February 8, 2024.

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