La Rosa Announces Pricing of Initial Public Offering and Nasdaq Listing
10 Oktober 2023 - 3:00PM
La Rosa Holdings Corp. (NASDAQ: LRHC) (“La Rosa” or the
“Company”), a holding company for five agent-centric,
technology-integrated, cloud-based, multi-service real estate
companies, today announced the pricing of its underwritten initial
public offering of 1,000,000 shares of common stock at an initial
public offering price of $5.00 per share. The gross proceeds from
the offering, before underwriting discounts and commissions and
estimated offering expenses payable by the Company, are expected to
be $5,000,000. In addition, the Company has granted the
underwriters a 45-day option to purchase up to 150,000 additional
shares of common stock at the initial public offering price, less
the underwriting discount.
The shares are expected to begin trading on The
Nasdaq Capital Market on October 10, 2023 under the ticker symbol
"LRHC". The offering is expected to close on October 12, 2023,
subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds of
the initial public offering for general corporate purposes, which
may include financing growth by acquiring more agents at a faster
pace, repayment of debt, developing new services, acquisitions of
controlling interest in a number of the Company’s franchisees, the
acquisition of other independent real estate brokerages, title
insurance agencies, mortgage brokerages and other complementary
businesses, general operating expenses and the purchase and
acquisition of proprietary technology.
Advisor DetailsAlexander
Capital L.P. is acting as sole book-running manager for the
offering. Sichenzia Ross Ference Carmel LLP served as counsel to
the Company. Pryor Cashman LLP served as counsel to the
underwriters.
The securities described above are being offered
by La Rosa pursuant to a registration statement on Form S-1, as
amended (File No. 333-264372) that was declared effective by the
U.S. Securities and Exchange Commission (the “SEC”) on October 4,
2023. The offering is being made only by means of a prospectus
forming a part of the effective registration statement. A copy of
the final prospectus related to the offering, when available, may
be obtained from Alexander Capital L.P., 10 Drs James Parker
Boulevard #202, Red Bank, NJ 07701, Attention: Equity Capital
Markets, or by calling (212) 687-5650 or emailing
info@alexandercapitallp.com or by logging on to the SEC’s website
at www.sec.gov.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy these securities,
and shall not constitute an offer, solicitation or sale 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 that state or jurisdiction. Any offers,
solicitations or offers to buy, or any sales of securities will be
made in accordance with the registration requirements of the
Securities Act of 1933, as amended.
La Rosa Holdings Corp.La Rosa
is a holding company for five agent-centric, technology-integrated,
cloud-based, multi-service real estate companies. In addition to
providing person-to-person residential and commercial real estate
brokerage services to the public, the Company cross-sells ancillary
technology-based products and services primarily to its sales
agents and the sales agents associated with their franchisees. La
Rosa’s business is organized based on the services they provide
internally to their agents and to the public, which are residential
and commercial real estate brokerage, franchising, real estate
brokerage education and coaching, and property management. La Rosa
has five La Rosa Realty corporate real estate brokerage offices
located in Florida, 28 La Rosa Realty franchised real estate
brokerage offices in six states in the United States and Puerto
Rico. The Company’s real estate brokerage offices, both corporate
and franchised, are staffed with more than 2,380 licensed real
estate brokers and sales associates.
Forward-Looking StatementsThis
press release includes statements that may be deemed to be
“forward-looking statements” under federal securities laws, and we
intend that such forward-looking statements be subject to the
safe-harbor created thereby. To the extent that the information
presented in this press release discusses financial projections,
information, or expectations about our business plans, results of
operations, products or markets, or otherwise makes statements
about future events, such statements are forward-looking. Such
forward-looking statements can be identified by the use of words
such as “should”, “may,” “intends,” “anticipates,” “believes,”
“estimates,” “projects,” “forecasts,” “expects,” “plans,” and
“proposes.” Specific forward-looking statements in this press
release include, among others, statements regarding the expected
trading of our shares on The Nasdaq Capital Market, the expected
closing of the offering, and the intended use of the net proceeds
of the offering. Although we believe that the expectations
reflected in these forward-looking statements are based on
reasonable assumptions, there are a number of risks and
uncertainties that could cause actual results to differ materially
and adversely from such forward-looking statements. You are urged
to carefully review and consider any cautionary statements and
other disclosures, including the statements made under the heading
“Risk Factors” in the prospectus included in the Registration
Statement and elsewhere in documents that we file from time to time
with the SEC. Forward-looking statements speak only as of the date
of the document in which they are contained, and La Rosa does not
undertake any duty to update any forward-looking statements except
as may be required by law. References and links to websites have
been provided as a convenience, and the information contained on
such websites is not incorporated by reference into this press
release.
For more information, contact:
info@larosaholdings.com
Investor Relations
Contact:Crescendo Communications, LLCDavid Waldman/Natalya
RudmanTel: (212) 671-1020 Email: LRHC@crescendo-ir.com
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