m_and_a
confidence high
sentiment neutral
materiality 0.85
RE/MAX Holdings to combine with Real Brokerage; stockholders can receive 5.150 shares or $13.80 cash/sh
RE/MAX Holdings, Inc.
- RE/MAX shareholders elect 5.150 new shares or $13.80/sh cash; total cash prorated to $60M-$80M.
- Combined company ownership: ~59% from Real Brokerage, ~41% from RE/MAX at midpoint of cash election.
- Termination fees: $25M by RE/MAX, $31M by Real Brokerage, and $36M regulatory fee in certain scenarios.
- Concurrent RIHI, Inc. acquisition by RE/MAX in stock-for-stock merger, conditioned on main deal closing.
- Support agreements secure ~38% of RE/MAX voting power and ~16% of Real Brokerage voting power to vote in favor.
item 1.01item 9.01