Summary by Moomoo AI
reAlpha Tech Corp. has filed a prospectus supplement on July 29, 2024, to update and supplement information contained in the original prospectus dated June 25, 2024. The supplement includes details of the company's recent acquisition of 85% of Hyperfast Title LLC, a Florida-based company specializing in real estate closings and title insurance. The acquisition was made through a Membership Interest Purchase Agreement with sellers David R. Breschi and Kristen Britton. The deal includes an Amended and Restated Operating Agreement outlining license fees, management fees, and rights of first refusal among other terms. reAlpha Tech, led by CEO and chairman Giri Devanur, who owns approximately 62.35% of the company's common stock, is listed on the Nasdaq under the ticker symbol 'AIRE'. The company's common stock closed at $1.51 on July 26, 2024. reAlpha Tech is considered a 'controlled company' under Nasdaq rules and is classified as an emerging growth company. The company has also issued a press release announcing the acquisition.
