reAlpha Tech Corp. closes $2 million public offering

DUBLIN, Ohio - reAlpha Tech Corp. (NASDAQ:AIRE), an AI-powered real estate technology company, announced Friday it has closed its previously announced public offering, raising approximately $2 million in gross proceeds. The micro-cap company, currently valued at $8.7 million, has seen its stock decline 94% year-to-date, according to InvestingPro data.

The offering consisted of 13,333,334 shares of common stock, along with Series A-1 and Series A-2 warrants to purchase up to an additional 13,333,334 shares each. The combined price was $0.15 per share and accompanying warrants.

The Series A-1 warrants will expire five years from stockholder approval date, while Series A-2 warrants will expire after 24 months. Both warrant series have an exercise price of $0.15 per share and will become exercisable upon stockholder approval.

H.C. Wainwright & Co. served as the exclusive placement agent for the offering, which was conducted under a registration statement declared effective by the SEC on July 16.

reAlpha intends to use the net proceeds for working capital and general corporate purposes, which may include debt repayment, acquisitions, capital expenditures, and cryptocurrency purchases in accordance with the company’s investment policy.

The company describes itself as developing an end-to-end platform that integrates brokerage, mortgage, and title services to streamline real estate transactions.

The announcement comes as reAlpha works to establish itself in the real estate technology sector. The offering was made pursuant to a prospectus filed with the SEC, according to the company’s press release statement.

In other recent news, reAlpha Tech Corp. has announced the pricing of a public offering aimed at raising approximately $2 million in gross proceeds. The offering includes 13,333,334 shares of common stock priced at $0.15 per share, along with Series A-1 and Series A-2 warrants. H.C. Wainwright & Co. is acting as the exclusive placement agent for this offering. The company plans to use the proceeds for working capital and general corporate purposes, which may include debt repayment and acquisitions. Additionally, reAlpha Tech has entered a waiver agreement with Streeterville Capital, allowing it to comply with certain financial restrictions related to a prior note purchase agreement.

Furthermore, reAlpha Tech disclosed a redemption notice from Streeterville Capital for a $350,000 payment under an existing secured promissory note, which the company plans to settle by issuing common stock. The company also received a notice from Nasdaq for non-compliance with the market value rule, requiring it to maintain a minimum market value of $35 million. ReAlpha Tech has been given until December 29, 2025, to regain compliance. The company is also working to address a separate deficiency related to the minimum bid price requirement. These developments highlight reAlpha Tech’s ongoing efforts to manage its financial and regulatory obligations.

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