La Rosa Holdings amends senior secured convertible note issued in February

La Rosa Holdings Corp. (NASDAQ:LRHC), currently trading at $0.13 per share with a market capitalization of $7.37 million, announced that it has amended the terms of a senior secured convertible note originally issued on February 4, 2025. The company disclosed in a filing with the Securities and Exchange Commission that on June 23, 2025, it entered into Amendment No. 1 with the institutional investor holding the note. InvestingPro data shows the company operates with significant debt concerns and rapid cash burn.

The amendment corrects certain mutually acknowledged errors in the definitions of the note’s maturity date and alternate conversion price. The original principal amount of the note is $5.5 million, and it was issued as part of a securities purchase agreement between La Rosa Holdings and the investor.

The company stated that the amendment is intended to clarify the previously agreed-upon terms. Further details about the changes were not specified in the summary, but the full text of the amendment was filed as an exhibit to the company’s Form 8-K.

La Rosa Holdings is incorporated in Nevada and is based in Celebration, Florida. The company’s common stock is listed on the Nasdaq Stock Market under the symbol LRHC.

This information is based on a statement included in a press release filed with the SEC.

In other recent news, La Rosa Holdings Corp. has entered a non-binding Letter of Intent with MiiX Financial Holdings Trust to incorporate MiiX’s residential financing solutions into its network of approximately 2,900 agents. This strategic move aims to enhance real estate transactions by integrating MiiX’s products directly into La Rosa’s agent workflows and property listings, potentially increasing homeownership access. Additionally, La Rosa Holdings has received a notice from Nasdaq regarding non-compliance with listing requirements due to negative stockholders’ equity, with a deficit of $83,377,044 as of March 31, 2025. The company has until July 14, 2025, to submit a compliance plan to Nasdaq, with the possibility of an extension if accepted.

The company also announced a change in its independent registered accounting firm, transitioning from Marcum LLP to CBIZ (NYSE:CBZ) CPAs, following Marcum’s resignation. Despite the change, Marcum’s previous reports did not contain any adverse opinions but noted material weaknesses in internal control over financial reporting. Furthermore, La Rosa Holdings introduced LR Agent Advance LLC, a subsidiary providing commission advances to its agents, which is expected to enhance financial flexibility and contribute to the company’s revenue model. CEO Joe La Rosa expressed optimism about the program’s alignment with the company’s financial targets, including achieving $100 million in revenue by the end of 2025. These developments are part of La Rosa Holdings’ ongoing efforts to expand and support its network of over 2,500 agents.

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