Summary by Moomoo AI
On November 21, 2024, reAlpha Tech Corp. announced the acquisition of USRealty Brokerage Solutions, LLC and an investment in Unreal Estate Inc. This strategic move aims to facilitate reAlpha's expansion into 33 U.S. states by leveraging brokerage licenses. The acquisition includes a services agreement with a broker from Unreal Estate LLC to provide necessary brokerage services.The acquisition is valued at $250,000, paid through in-kind services over one year. Additionally, reAlpha received a $60,000 convertible promissory note from Unreal Estate Inc., which can be converted into preferred or common stock under certain conditions. This investment is expected to enhance reAlpha's operational capabilities and support growth in its service businesses.reAlpha's CEO, Giri Devanur, emphasized the acquisition's potential to reduce costs and time associated with organic growth, aiming for nationwide expansion by the end of 2025. The company continues to seek additional brokerage licenses to broaden its service reach.