Summary by Futu AI
reAlpha Tech Corp. (reAlpha) filed a prospectus supplement on November 12, 2024, to update and supplement information contained in a previous prospectus dated June 25, 2024. The supplement includes the company's Quarterly Report on Form 10-Q, which details the issuance of up to 1,997,116 shares of common stock and 1,700,884 shares underlying the warrants. reAlpha's common stock is listed on the Nasdaq under the ticker symbol 'AIRE,' with a closing price of $1.00 on November 11, 2024. The company, controlled by CEO and chairman Giri Devanur, who owns approximately 60.26% of outstanding common stock, is not required to comply with certain Nasdaq corporate governance requirements but has chosen not to take advantage of these exceptions. The prospectus supplement, which must be read in conjunction with the original prospectus, includes financial statements for the quarter ended September 30, 2024, and highlights the company's focus on enhancing AI technologies and strategic acquisitions to improve its homebuying platform.