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LOS ANGELES - OFA Group (NASDAQ:OFAL), a micro-cap company with a market value of $30.12 million, has signed a Letter of Intent to acquire a 60% controlling interest in Aspire Homes Realty Inc. and its affiliated lending platform, RateDNA, Inc., according to a press release statement issued Friday. According to InvestingPro analysis, the company’s stock has declined over 62% year-to-date, suggesting significant investor caution.
The acquisition targets are described as a vertically integrated real estate and mortgage business backed by AlphaX, a private investment firm based in Orange County, California.
Aspire Homes provides brokerage services with investment-focused agent training and in-house staging, design, and construction capabilities. RateDNA offers mortgage products for the investor market, including DSCR and non-QM loans, supported by proprietary tools.
"We believe this proposed transaction represents a compelling opportunity to expand OFA’s presence in two resilient, cash-generating verticals, real estate services and specialty lending," said Thomas Gaffney, OFA Group COO.
OFA Group, through its subsidiary Office for Fine Architecture Limited, provides architectural services for commercial and residential buildings. The company is also developing AI technologies aimed at enhancing its design services.
The transaction remains subject to the parties entering into a definitive agreement and satisfying closing conditions. Financial terms of the proposed acquisition were not disclosed in the announcement.
The company noted that various factors could affect the completion of the acquisition, including failure to reach final agreement, regulatory issues, or changes in market conditions.
In other recent news, OFA Group has reported progress on its dual-strategy business model, focusing on the development of AI platforms and real estate initiatives. The company recently completed its initial public offering, setting the IPO price at $4.00 per share, with gross proceeds expected to reach $15 million. The funds are intended for research and development of architectural AI services, expansion of service capacity, and general working capital needs. OFA Group is advancing two AI platforms: PlanAId, which automates building code compliance and design validation, and another application for generating documentation from architectural layouts.
Additionally, the company is initiating the development of senior assisted living communities, evaluating properties, and preparing architectural plans to meet demographic demand. OFA Group emphasizes its commitment to combining AI innovation with strategic development while maintaining disciplined capital allocation. The IPO was conducted on a firm commitment basis, with R.F. Lafferty & Co., Inc. as the underwriter. The company has also granted an option to purchase additional shares within 45 days post-IPO closing. These developments highlight OFA Group’s strategic focus on integrating AI with architectural expertise.
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