La Rosa Announces Closing of Initial Public Offering
13 10월 2023 - 3:00AM
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 closing 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, to cover over-allotments, if any.
The shares began trading on The Nasdaq Capital
Market on October 10, 2023 under the ticker symbol "LRHC."
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 Details
Alexander Capital L.P. acted 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) declared effective by the U.S.
Securities and Exchange Commission (the “SEC”) on October 4, 2023.
A final prospectus relating to the offering was filed with the SEC
on October 10, 2023, and is available by contacting 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.
About 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 and 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.
For more information, please visit:
https://www.larosaholdings.com
Forward-Looking Statements
This press release contains forward-looking
statements regarding the Company’s current expectations. These
forward-looking statements include, without limitation, references
to the Company’s expectations regarding the anticipated use of net
proceeds from the offering. These statements are not
guarantees of future performance and are subject to certain risks,
uncertainties and assumptions that are difficult to predict.
Factors that could cause actual results to differ including, but
are not limited to, factors that result in changes to the Company's
anticipated use of proceeds. 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 final
prospectus 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
La Rosa (NASDAQ:LRHC)
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