The Real Brokerage Inc. closes accelerated warrant exercise transaction

28 June 2021

On June 28, 2021, The Real Brokerage Inc. ("Real" or the "Company") (TSXV: REAX) (NASDAQ: REAX) closed an accelerated warrant transaction resulting in  C$32,845,011.20 in proceeds to the Company. 

The warrant exercises follow Real's listing of its common shares on The Nasdaq Capital Market on June 15, 2021. In connection with the Nasdaq listing, Real delivered an "Acceleration Notice" to certain funds managed by Insight Venture Management LLC ("Insight Partners") providing for the acceleration of the expiry date to 5:00 p.m. (Eastern Time) on June 30, 2021 of an aggregate of 4,321,712 post-consolidated, previously issued common share purchase warrants, issued to Insight Partners on December 2, 2020, at a post-consolidated exercise price of C$7.60 per common share. All warrants held by Insight Partners were exercised for common shares.

The warrants were issued to Insight Partners as part of the previously announced US$20 Million strategic investment by Insight Partners into Real on December 2, 2020.

Real is a technology powered real estate brokerage operating in 31 US states and the District of Columbia.

Jason A. Saltzman and Adam Sherman of Gowling WLG advised Real with respect to the closing of this transaction.


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