美國

證券交易委員會

華盛頓特區 20549

表格8-K

當前報告

根據第13節 或第15(d)條的規定

1934年證券交易法的證券交易所行爲報告

報告日期（首次報告事件的日期）： 2024年12月19日

reAlpha Tech Corp.

(註冊人準確名稱 如其章程所列)

6515 Longshore Loop, 100號套房, 都柏林, 哦 43017

(主要執行辦公室地址 及郵政編碼)

(707) 732-5742

(註冊人的 電話號碼，包括區號)

如果此次提交的Form 8-K申請同時滿足註冊人的以下條款要求，請在下面選中相應的 框：

根據《法案》第12(b)條註冊的證券：

請勾選指示，表明註冊人是否符合1933年證券法規則405條（本章節第230.405條）或1934年證券交易法規則120億.2（本章節第2401.2億.2條）中定義的新興成長公司要求。

新興成長公司☒

如果是新興成長公司，請勾選指示以表明註冊人是否選擇不使用根據證券交易法第13(a)條提供的任何新的或修訂的財務會計準則的延長過渡期來遵守。☐

項目 8.01 其他事項。

2024年12月19日，reAlpha Tech Corp.（"公司"，"reAlpha"，"我們"，"我們的"）發佈新聞稿，宣佈其董事會批准了一項數字貨幣投資政策，並將某些數字貨幣作爲其主要的財政儲備資產。新聞稿的副本已作爲本次報告的附件99.1提交，並在此處引用。

我們 還提交了這份8-K表格，以補充我們之前公開文件中關於採用 我們的數字貨幣投資政策和財政策略的風險因素披露，包括在我們2023年12月31日結束的八個月的10-K過渡報告中 討論的「第1A項。風險因素」下的內容，該報告已於2024年3月12日提交給美國證券交易委員會 （「SEC」），以及後續向SEC提交的報告。以下風險因素應與我們之前公開文件中描述的其他風險因素一起閱讀。

與我們數字貨幣投資相關的風險 政策和財務策略

我們的數字貨幣投資政策使我們面臨與數字貨幣相關的各種風險。

我們的數字貨幣投資 政策和財務策略使我們面臨與數字貨幣相關的各種風險，包括以下幾點：

數字貨幣是一種 高度波動的資產。比特幣作爲最受認可的數字貨幣之一，是一種高度波動的資產，在本日期之前的12個月內，其交易價格曾低於 40,000美元/比特幣，曾高於108,000美元/比特幣，而以太幣在此期間的交易價格曾低於2,100美元/以太幣，曾高於4,000美元/以太幣。諸如比特幣和以太幣等數字貨幣的交易價格在之前的時期大幅下跌，未來可能會再次出現這種下跌。儘管存在這種波動性，我們目前並不打算對我們的數字貨幣持有進行對沖，並且尚未採取任何關於數字貨幣的對沖策略。然而，我們可能會不時參與對沖策略作爲我們財務管理操作的一部分，如果認爲合適的話。

數字貨幣不 支付利息或分紅派息。數字貨幣通常不支付利息或其他回報，我們只能通過賣出這些數字貨幣或實施策略來創造收入流，或通過使用我們的數字貨幣資產來生成現金。即使我們追求這樣的策略，我們也可能無法從我們的數字貨幣資產中創造收入流或其他現金生成，並且任何這樣的策略可能會使我們面臨額外風險。

我們的數字貨幣持有量 可能會顯著影響我們的財務結果以及我們普通股的市場價格。 我們的數字貨幣持有量可能會顯著 影響我們的財務結果，如果我們將來繼續購買額外的數字貨幣，它們將對我們的財務結果和我們普通股的市場價格產生更大的影響。

我們的數字貨幣投資 政策和財務策略尚未經過長時間或不同市場條件的測試。我們需要 不斷檢查這個新數字貨幣投資政策和財務策略的風險和回報。這個新策略 尚未經過長時間或不同市場條件的測試。例如，儘管我們認爲比特幣由於其有限的供應，在長期內有可能作爲對抗通脹的對沖，但比特幣的短期價格在通脹率上升的近期期間內有所下降。一些投資者和其他市場參與者可能不同意我們的數字貨幣投資政策和財務策略或我們爲實施該政策所採取的行動。如果數字貨幣價格下跌或我們的數字貨幣投資政策和財務策略未能成功，我們的財務狀況、經營結果以及我們普通股的市場價格可能會受到重大不利影響。

我們面臨對手方風險，尤其是與我們的保管人相關的風險。儘管我們計劃實施各種措施以降低我們的對手方風險，包括可能將我們可能擁有的所有或幾乎所有加密貨幣存放在美國本土的機構級保管帳戶中，並協商合同安排以確立我們對保管持有的加密貨幣的財產權利不會受到保管人債權人的要求，但適用的破產法在數字資產在保管帳戶中的持有方面尚不完善。如果保管持有的加密貨幣在任一保管人進入破產、接管或類似破產程序時被視爲保管人遺產的財產，我們可能會被視爲該保管人的一般無擔保債權人，從而限制我們對這些加密貨幣行使所有權利的能力，這最終可能導致我們失去部分或全部加密貨幣相關的價值。即使我們能夠防止我們獲得的任何加密貨幣在破產程序中被視爲保管人的破產遺產的一部分，但在破產程序期間，我們仍可能會被延誤或以其他方式在訪問受到影響的保管人持有的加密貨幣時遇到困難。任何此類結果都可能對我們的財務狀況和我們普通股的市場價格產生重大不利影響。

更廣泛的數字資產 行業板塊面臨交易對手風險，這可能會對加密貨幣的採納率、價格和使用產生不利影響。最近一系列引人注目的破產、關閉、清算、監管執法行動以及與數字資產行業相關的其他事件，包括「三箭資本」、 Celsius Network、Voyager Digital、FTX交易以及Genesis Global Capital申請破產保護，關閉或清算爲數字資產行業提供借貸和其他服務的金融機構，包括Signature Bank和Silvergate Bank，證券交易委員會（SEC）對Coinbase, Inc.和Binance Holdings Ltd.展開的執法行動，以及在內華達州商業及工業部發出的停止和處置命令後，Prime Trust, LLC被置於接管狀態，紐約總檢察長對Genesis Global Capital及其母公司Digital Currency Group, Inc.和前合作伙伴Gemini Trust Company提起的民事欺詐訴訟的提起及隨後和解，突顯了擁有和交易數字資產相關的交易對手風險。這些破產、關閉、清算和其他事件在短期內可能對比特幣及其他加密貨幣的採納率和使用產生負面影響。未來在數字資產行業參與者中可能發生的其他破產、關閉、清算、監管執法行動或其他事件，可能會進一步對加密貨幣的採納率、價格和使用產生負面影響，或者創造或暴露出額外的交易對手風險。

我們對數字貨幣的所有權變更可能會帶來會計、監管和其他影響。雖然我們預計將直接擁有數字貨幣，但我們可能會研究其他擁有數字貨幣的潛在方法，包括間接擁有（例如，通過擁有一個擁有數字貨幣的基金的股份）。如果我們以不同的方式擁有全部或部分數字貨幣，那麼我們數字貨幣的會計處理和我們需要遵守的監管要求可能會相應改變。例如，數字貨幣的波動性可能迫使我們變現持有的數字貨幣以作爲抵押，這可能會受到任何加密市場波動的負面影響；如果變現，抵押品的價值將無法反映此類數字貨幣市場價值的潛在增值，這一切都可能對我們的業務和數字貨幣投資政策及資金管理策略的實施產生負面影響。

Changes in the accounting treatment of our cryptocurrency holdings could have significant accounting impacts, including increasing the volatility of our results. Cryptocurrencies are currently accounted for as indefinite-lived intangible assets under generally accepted accounting principles in the United States, which means, to the extent we acquire any cryptocurrency, we will recognize decreases in the value of such cryptocurrencies we hold as impairments, but will not recognize any increases in their value until we have sold them. This accounting treatment may adversely affect our operating results in periods where we have recognized an impairment. In December 2023, the Financial Accounting Standards Board issued Accounting Standards Update 2023-08, or ASU 2023-08, which, upon our adoption, will require us to measure in-scope crypto assets (including any cryptocurrency holdings we may have at the time) at fair value in our statement of financial position, and to recognize gains and losses from changes in the fair value of our cryptocurrencies in net income each reporting period. ASU 2023-08 will also require us to provide certain interim and annual disclosures with respect to our cryptocurrency holdings. The standard is effective for fiscal years beginning after December 15, 2024, and early adoption is permitted. Due in particular to the volatility in the price of cryptocurrencies, we expect that the adoption of ASU 2023-08, to the extent we hold any cryptocurrency at such time, will have a material impact on our financial results in future periods, increase the volatility of our financial results, and affect the carrying value of our cryptocurrencies on our balance sheet, and could have adverse tax consequences, which in turn could have a material adverse effect on our financial results and the market price of our common stock.

The broader digital assets industry, including the technology associated with digital assets, the rate of adoption and development of, and use cases for, digital assets, market perception of digital assets, and the legal, regulatory, and accounting treatment of digital assets are constantly developing and changing, and there may be additional risks in the future that are not possible to predict.

We intend to acquire cryptocurrencies on an ongoing basis, which may subject us to exchange risk and additional tax, legal, and regulatory requirements.

We intend to acquire cryptocurrencies in an amount not to exceed 25% of our cash and cash equivalents, if any, in excess of our estimated operating expenses for the 6-month period from the date of the proposed purchase, which estimated operating expenses include our allocation for acquisition expenses and estimated future current liabilities for such 6-month period, and to hold such cryptocurrencies we purchase as our primary treasury reserve assets until such time we deem it appropriate, subject to market conditions and our operating needs.

The prices of cryptocurrencies such as bitcoin and ethereum have been and may continue to be highly volatile, and our ability to sell cryptocurrencies for fiat currencies or other cryptocurrencies may be subject to unanticipated suspensions in trading, as well as exchange rate risk. While we have not yet acquired any cryptocurrencies, our investment policy allows us to make investments in cryptocurrencies for treasury purposes, which cryptocurrencies will be limited to bitcoin, ethereum solana and any other cryptocurrency that the SEC, Commodities Futures Trading Commission, or high-ranking members of the staff of such regulatory bodies may, through public statements or guidance, identify as likely not being a security. Such determinations, however, are risk-based judgments made by us, and while such judgments are informed by regulatory developments, any such determination does not constitute a legal standard or determination binding on any regulatory body.

Cryptocurrencies have no physical form and rely on blockchain and other technologies for their creation, existence, and transactional validation on their respective blockchains. This reliance subjects cryptocurrencies, cryptocurrency exchanges, and other blockchain intermediaries to unique risks related to cybersecurity, malicious attack, and technological obsolescence. While we believe we have taken reasonable measures to secure any cryptocurrencies we may acquire, these risks, in addition to human errors and computer malfunctions, may result in the loss or destruction of private keys needed to access the cryptocurrencies we hold and blockchain technology we control. In which case, we may lose part or all of the cryptocurrencies we hold and blockchain technology we control, and our financial condition and results of operations may be harmed.

While we believe cryptocurrencies and blockchain technology have significant potential, the popularity and prevalence of cryptocurrencies is a relatively recent trend, and whether cryptocurrencies and blockchain technology will continue to be adopted by consumers and businesses in the long term is uncertain. There has been increased focus on the use of cryptocurrencies for improper, illegal, or fraudulent activities associated with various cryptocurrency projects, and the environmental risks posed by cryptocurrencies and blockchain technology. Many cryptocurrencies are distributed without an identifiable centralized issuer or governing body, and their legal and regulatory status in various jurisdictions is unclear and may change in the future. New legislation and regulations, law enforcement and regulatory interventions, and judicial decisions may adversely affect cryptocurrencies, blockchain technology, and future adoption of both by consumers and businesses. Developments of this nature may also adversely affect the value of cryptocurrencies we hold, blockchain technology we control, and our ability to buy, sell, accept, and use cryptocurrencies and blockchain technology in the future.

Regulatory change reclassifying cryptocurrencies as a security could lead to our classification as an “investment company” under the Investment Company Act of 1940, as amended, and could adversely affect the market price of cryptocurrencies and the market price of our common stock.

Under Sections 3(a)(1)(A) and (C) of the Investment Company Act of 1940, as amended, or the 1940 Act, a company generally will be deemed to be an “investment company” for purposes of the 1940 Act if (1) it is, or holds itself out as being, engaged primarily, or proposes to engage primarily, in the business of investing, reinvesting or trading in securities or (2) it engages, or proposes to engage, in the business of investing, reinvesting, owning, holding or trading in securities and it owns or proposes to acquire investment securities having a value exceeding 40% of the value of its total assets (exclusive of U.S. government securities and cash items) on an unconsolidated basis. We do not believe that we are an “investment company,” as such term is defined in the 1940 Act, and are not registered as an “investment company” under the 1940 Act as of the date hereof.

While the SEC stated that its view is that bitcoin and ethereum are not a “security” for purposes of the federal securities laws, the SEC has not provided an official position regarding other cryptocurrencies. Therefore, to the extent we hold any cryptocurrencies, a contrary determination by the SEC regarding bitcoin and ethereum, or the SEC’s determination that cryptocurrencies such as solana are “securities” for purposes of federal securities laws, could lead to our classification as an “investment company” under the 1940 Act, if the portion of our assets consisting of investments in cryptocurrencies exceed 40% safe harbor limits prescribed in the 1940 Act, which would subject us to significant additional regulatory controls under the 1940 Act that could have a material adverse effect on our business and operations and may also require us to change the manner in which we conduct our business.

We monitor our assets and income for compliance under the 1940 Act and seek to conduct our business activities in a manner such that we do not fall within its definitions of “investment company” or that we qualify under one of the exemptions or exclusions provided by the 1940 Act and corresponding SEC regulations. If cryptocurrencies are determined to constitute a security for purposes of the federal securities laws, and to the extent we acquire any cryptocurrencies, we would take steps to reduce the percentage of cryptocurrency that constitute investment assets under the 1940 Act. These steps may include, among others, selling cryptocurrencies that we might otherwise hold for the long term and deploying our cash in non-investment assets, and we may be forced to sell our cryptocurrencies at unattractive prices. We may also seek to acquire additional non-investment assets to maintain compliance with the 1940 Act, and we may need to incur debt, issue additional equity or enter into other financing arrangements that are not otherwise attractive to our business. Any of these actions could have a material adverse effect on our results of operations and financial condition. Moreover, we can make no assurance that we would successfully be able to take the necessary steps to avoid being deemed to be an investment company in accordance with the safe harbor. If we were unsuccessful, and if cryptocurrencies are determined to constitute a security for purposes of the federal securities laws, then we would have to register as an investment company, and the additional regulatory restrictions imposed by 1940 Act could adversely affect the market price of cryptocurrencies and in turn adversely affect the market price of our common stock.

Forward-Looking Statements

The information in this Form 8-K, including Exhibit 99.1, includes “forward-looking statements.” Forward-looking statements include, among other things, statements about reAlpha’s adoption of its cryptocurrency treasury strategy and investment policy; the anticipated benefits of the cryptocurrency treasury strategy and investment policy; reAlpha’s ability to anticipate the future needs of the short-term rental market; future trends in the real estate, technology and artificial intelligence industries, generally; and reAlpha’s future growth strategy and growth rate. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: risks inherent with investing in cryptocurrencies, including related price volatility, cybersecurity threats, potential loss of investment, regulatory oversight and others; reAlpha’s ability to timely respond to any changes in its operating needs, market conditions or regulatory framework related to digital assets, including cryptocurrencies; risks relating to implementing a new treasury strategy and investment policy; reAlpha’s limited cash position and ability to have excess cash in order to advance its cryptocurrency treasury strategy and investment policy; reAlpha’s ability to accurately estimate its operating expenses for any subsequent 6-month period in order to advance its cryptocurrency treasury strategy and investment policy; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha’s SEC filings. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha’s future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements. For more information about the factors that could cause such differences, please refer to reAlpha’s filings with the SEC. Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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