8-K
reAlpha Tech Corp. (AIRE)
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Dateof Report (date of earliest event reported): October 23, 2023
reAlphaTech Corp.
(Exactname of registrant as specified in its charter)
| Delaware | 001-41839 | 86-3425507 |
|---|---|---|
| (State or other jurisdiction of<br><br> <br>incorporation or organization) | (Commission FileNumber) | (I.R.S. Employer<br><br> <br>Identification Number) |
6515Longshore Loop, Suite 100, Dublin, OH 43017
(Addressof principal executive offices and zip code)
(707)
732-5742
(Registrant’stelephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written<br>communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting<br>material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communications<br>pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement communications<br>pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Nameof each exchange on which registered |
|---|---|---|
| Common Stock, par value $0.001 per share | AIRE | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item7.01 Regulation FD Disclosure.
On October 23, 2023, reAlpha Tech Corp. (the “Company”) issued a press release announcing that its common stock, par value $0.001 per share, will begin trading on The Nasdaq Capital Market under the ticker symbol “AIRE” on such date. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.
The Company announces material information to its investors using filings with the U.S. Securities and Exchange Commission (the “SEC”), the investor relations page on the Company’s website, ir.realpha.com, press releases, public conference calls and webcasts. The Company uses these channels, as well as social media, to communicate with investors and the public about the Company, its products and services and other matters. For instance, each quarter the Company intends to post on its investor relations website to report certain key short-term rentals financial metrics for the prior quarter, with the consolidated results for each fiscal year to be included in the Company’s annual report. Therefore, the Company encourages investors, the media and others interested in the Company to review the information it makes public in these locations, as such information could be deemed to be material information. Any updates to the list of disclosure channels through which the Company will announce information will be posted on the investor relations page on the Company’s website.
The information furnished under this Item 7.01 and in the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
Item 9.01Financial Statements and Exhibits
(d)Exhibits
| Exhibit Number | Description |
|---|---|
| 99.1 | Press release, dated October 23, 2023, issued by reAlpha Tech Corp. |
| 104 | Cover<br> Page Interactive Data File (embedded within the Inline XBRL document). |
1
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.
| Date:<br> October 23, 2023 | reAlpha Tech Corp. | |
|---|---|---|
| By: | /s/ Giri Devanur | |
| Giri<br> Devanur | ||
| Chief<br> Executive Officer |
2
Exhibit 99.1
reAlpha Announces Effectiveness of RegistrationStatement for Proposed Direct Listing of Its Common Stock on Nasdaq
DUBLIN, Ohio (October 23, 2023) – reAlpha Tech Corp. (“reAlpha” or the “Company”) today announces that its registration statement on Form S-11 was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on October 20, 2023. reAlpha anticipates that its common stock will begin trading on The Nasdaq Capital Market (“Nasdaq”) under the ticker symbol “AIRE” on October 23, 2023.
“Listing on the Nasdaq represents a significant achievement for reAlpha and will advance our mission to develop, utilize and commercialize real-estate focused artificial intelligence,” stated Giri Devanur, CEO of reAlpha. “We believe that accessing the public capital markets will act as a catalyst for our growth, enabling us to expand both organically and through strategic acquisitions, broaden our investor base, and empower us to attract world-class talent.”
A copy of the prospectus related to the registration statement may be obtained by visiting the SEC website, by visiting the investor relations page on reAlpha’s website at ir.realpha.com or from reAlpha, c/o Investor Relations, 6515 Longshore Loop, Suite 100, Dublin, OH 43017.
The registration statement relating to reAlpha’s common stock has been filed with, and declared effective by, the SEC. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Maxim Group LLC acted as exclusive financial advisor to the Company in connection with the direct listing.
About reAlpha
reAlpha is a real estate technology company with a mission to develop, utilize and commercialize real-estate focused artificial intelligence (“AI”). Founded with a focus on short-term rental properties, reAlpha’s strategy involves developing and buying technologies aimed at democratizing access to this asset class. In addition to providing individual investors with access to short-term rentals, reAlpha plans to make some of its technologies available for commercial use on a licensing fee basis, pay-per-use basis or other fee arrangements. For more information about reAlpha, visit www.realpha.com.
Forward-Looking Statements
The information in this press release includes “forward-looking statements”. Forward-looking statements include, among other things, statements about: reAlpha’s expectations regarding its ability to become a public company; reAlpha’s ability to anticipate the future needs of the short-term rental market; future trends in the real estate, technology and artificial intelligence (“AI”) 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. These forward-looking statements include, without limitation, statements regarding the satisfaction of required conditions for the listing of the reAlpha common stock. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha’s future ability to pay contractual obligations and liquidity will depend on operating performance, cash flow and ability to secure adequate financing; reAlpha’s limited operating history and that reAlpha has not yet fully developed its AI-based technologies; reAlpha’s ability to commercialize its developing AI-based technologies; the inability to maintain and strengthen reAlpha’s brand and reputation; any accidents or incidents involving cybersecurity breaches and incidents; the inability to accurately forecast demand for short-term rentals and AI-based real estate focused products; the inability to execute business objectives and growth strategies successfully or sustain reAlpha’s growth; the inability of reAlpha’s customers to pay for reAlpha’s services; the inability of reAlpha to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; the outcome of any legal proceedings that might be instituted against reAlpha; 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 the prospectus. 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.
Media Contact
ICR on behalf of reAlpha
media@realpha.com