reAlpha
reAlpha has gone public on the Nasdaq [Credit: reAlpha]

reAlpha completes direct listing to trade on Nasdaq

US: AI-powered real estate technology and investment company, reAlpha Tech Corp. [reAlpha], has completed its direct listing and begun publicly trading on the Nasdaq under the ticker symbol ‘AIRE’.

reAlpha shares debuted on the Nasdaq with a $23.01 opening price. Maxim Group LLC acted as exclusive financial adviser to reAlpha in connection with the direct listing.

reAlpha CEO Giri Devanur said: “Listing on the Nasdaq represents a significant achievement for reAlpha and will advance our mission to develop, utilise and commercialise real-estate focused artificial intelligence. We believe that accessing the public capital markets will act as a catalyst for our growth, enabling us to expand both organically and through strategic acquisitions, broaden our investor base, and empower us to attract world-class talent.”

Last December, reAlpha signed an agreement with GEM Global Yield LLC SCS [GGY], a Luxembourg-based private alternative investment group, for a $100 million capital commitment [a share subscription facility] for a 36-month term following the public listing of reAlpha’s shares.

At the time, the company said that the proceeds from the financing would be used to accelerate reAlpha’s investments in experiential and rent-ready vacation homes, and for general corporate purposes.

Also last year, reAlpha agreed to a $200 million joint venture with Singapore-based asset management firm SAIML Pte. Limited to acquire rent-ready vacation homes in November. Prior to that, the company secured a $200 million financing facility from Churchill Real Estate to fuel acquisition growth, as well as partnering with RARE Treehouse Resorts to jointly develop a “first-of-its-kind” treehouse resort in the United States.

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