reAlpha Tech Corp., a Delaware-based company, has officially terminated negotiations to acquire United Software Group (USG) and its subsidiaries, as disclosed in their Quarterly Report filed on April 19, 2024. The initial letter of intent for the acquisition, which had a potential aggregate purchase price of up to $14 million, was signed on December 13, 2023, and publicly announced on December 18, 2023. However, following due diligence, reAlpha Tech decided against entering a definitive agreement. The termination of negotiations, which occurred on April 12, 2024, did not result in any economic or legal penalties for reAlpha Tech, including any termination fee. The company also reported incurring non-significant costs during the due diligence process. The decision to not proceed with the acquisition was based on the assessment that the transaction was not 'probable' within the meaning of certain SEC regulations. The company's management believes that including the letter of intent in the 'Subsequent Events' note of their Registration Statement would not have aided in making an informed investment decision and could have potentially misled investors.

reAlpha Tech Corp., a Delaware-based company, has officially terminated negotiations to acquire United Software Group (USG) and its subsidiaries, as disclosed in their Quarterly Report filed on April 19, 2024. The initial letter of intent for the acquisition, which had a potential aggregate purchase price of up to $14 million, was signed on December 13, 2023, and publicly announced on December 18, 2023. However, following due diligence, reAlpha Tech decided against entering a definitive agreement. The termination of negotiations, which occurred on April 12, 2024, did not result in any economic or legal penalties for reAlpha Tech, including any termination fee. The company also reported incurring non-significant costs during the due diligence process. The decision to not proceed with the acquisition was based on the assessment that the transaction was not 'probable' within the meaning of certain SEC regulations. The company's management believes that including the letter of intent in the 'Subsequent Events' note of their Registration Statement would not have aided in making an informed investment decision and could have potentially misled investors.