reAlpha Tech Corp. (AIRE): M&A transaction — reAlpha Tech Corp. acquires mortgage brokerage Be My Neighbor for up to $6M

reAlpha Tech Corp.

Consideration: $1.5M cash at close, $1.5M in restricted shares (1,146,837 shares at $1.31/share), and up to $3M in earn-out payments.
Earn-out payments based on revenue and EBITDA thresholds over three successive 12-month measurement periods.
Be My Neighbor is licensed in 26 U.S. states and adds mortgage lending/refinancing to reAlpha's AI-powered platform.
Acquisition closed September 8, 2024; Sellers include co-founders Christopher Griffith and Isabel Williams.
Be My Neighbor will continue operating under its brand while leveraging reAlpha's resources and generative AI.

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

reAlpha Tech Corp. completed an acquisition involving Debt Does Deals, LLC (d/b/a Be My Neighbor) for up to $6,000,000 (closed 2024-09-08).

Action: acquisition
Counterparty: Debt Does Deals, LLC (d/b/a Be My Neighbor)
Consideration: up to $6,000,000
Closing: 2024-09-08

Exact text from the filing

Agreement, and pursuant to the terms and subject to the conditions of the Acquisition Agreement, the Company agreed to pay the Sellers an aggregate purchase price of up to $6,000,000, subject to the adjustments described below to each of the Earn-Out Payments (as defined below) provided in the Acquisition Agreement, consisting of: (i) $1,500,000 in cash paid on

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reAlpha Tech Corp. filing history →

Source: SEC EDGAR

accession 0001213900-24-076696

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