Real REMAX Group completes merger of RE/MAX and Real Brokerage; $550M term loan

Real REMAX Group Inc.

Merger closed Aug 24, 2026; Real REMAX Group is now ultimate parent of RE/MAX, Real and their subsidiaries.
Entered $550M term loan and $40M revolving facility with Morgan Stanley; term loan matures Aug 24, 2031.
Cash elect REMAX holders got ~$4.33/share + 0.3535 Real REMAX shares; stock elect got 0.5150 shares; ~$80M cash paid.
Real shares consolidated 10-for-1; ~14.5M shares issued to REMAX holders, ~22.1M to Real shareholders.
Registration rights granted to David Liniger and certain REMAX stockholders; indemnification agreements for directors and officers.

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