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reAlpha Tech | 8-K: Current report

SEC ·  Nov 21, 2024 08:20

Summary by Futu AI

reAlpha Tech Corp. has acquired 100% membership interest in USRealty Brokerage Solutions, LLC from Unreal Estate LLC for $250,000, to be paid in in-kind services over one year. The acquisition includes USRealty's Multiple Listing Service registration and broker services agreement covering 33 U.S. states.Additionally, reAlpha invested $60,000 in Unreal Estate Inc. through a convertible promissory note with 9% annual interest, maturing in 4 years. The note is convertible into preferred or common stock based on various triggering events, including equity financing rounds, change of control, or public listing.The strategic moves expand reAlpha's real estate operations while securing a stake in Unreal Estate's future growth. The note's conversion terms include provisions for both equity financing scenarios and liquidity events, with a $25 million valuation cap.
reAlpha Tech Corp. has acquired 100% membership interest in USRealty Brokerage Solutions, LLC from Unreal Estate LLC for $250,000, to be paid in in-kind services over one year. The acquisition includes USRealty's Multiple Listing Service registration and broker services agreement covering 33 U.S. states.Additionally, reAlpha invested $60,000 in Unreal Estate Inc. through a convertible promissory note with 9% annual interest, maturing in 4 years. The note is convertible into preferred or common stock based on various triggering events, including equity financing rounds, change of control, or public listing.The strategic moves expand reAlpha's real estate operations while securing a stake in Unreal Estate's future growth. The note's conversion terms include provisions for both equity financing scenarios and liquidity events, with a $25 million valuation cap.

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