La Rosa Request for Withdrawal of Registration Statement on Form S-1
June 14 2024 - 12:30PM
La Rosa Holdings Corp. (NASDAQ: LRHC) (“La Rosa” or the
“Company”), a holding company for five agent-centric,
technology-integrated, cloud-based, multi-service real estate
segments, today announced that it has filed a Request for
Withdrawal of the Registration Statement with the U.S. Securities
and Exchange Commission (“SEC”) with respect to the Company’s
Registration Statement on Form S-1 that it filed with the SEC
originally on June 11, 2024.
The Registration Statement has not been declared
effective by the SEC, and no securities have been sold in
connection with the offering described in the Registration
Statement.
Joe La Rosa, CEO of the Company, commented, “We
do not believe our current market capitalization accurately
reflects the true value of our Company. This decision to withdraw
the proposed offering was made after careful consideration and
analysis of our current financial standing and market conditions.
We aim to reassess our strategy and timing for accessing the public
markets to ensure that it aligns with the long-term interests of
our shareholders and the sustainable growth of our business. We are
confident in our business model and the opportunities ahead.”
La Rosa is committed to delivering value to its
shareholders through its unique, agent-centric approach and
integrated technology platforms across its multi-service real
estate segments. The Company remains focused on its core business
operations and strategic initiatives aimed at enhancing its market
position and driving growth. The decision to withdraw the
Registration Statement does not affect the Company’s business
operations or its strategic objectives.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy the Company’s common
stock or any securities, and there shall not be any offer,
solicitation or sale of securities mentioned in the press release
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities law of such any state or jurisdiction.
About La Rosa Holdings
Corp.
La Rosa Holdings Corp. (Nasdaq: LRHC) is
disrupting the real estate industry by offering agents a choice
between a revenue share model or an annual fee-based model with
100% agent commissions. Leveraging its proprietary technology
platform, La Rosa empowers agents and franchisees to deliver
top-tier service to their clients. The Company provides both
residential and commercial real estate brokerage services and
offers technology-based products and services to its sales agents
and franchise agents.
La Rosa's business model is structured around
internal services for agents and external services for the public,
including residential and commercial real estate brokerage,
franchising, real estate brokerage education and coaching, and
property management. The Company has 22 La Rosa Realty corporate
real estate brokerage offices and branches located in Florida,
California, Texas, and Georgia. The Company also has 15 La Rosa
Realty franchised real estate brokerage offices and branches and
two affiliated real estate brokerage offices in the United States
and Puerto Rico.
For more information, please
visit: https://www.larosaholdings.com.Stay connected with La
Rosa, sign up for news alerts
here: larosaholdings.com/email-alerts.
Forward-Looking Statements
This press release contains forward-looking
statements regarding the Company’s current expectations that are
subject to various risks and uncertainties. Such statements include
statements regarding the Company’s ability to grow its business and
other statements that are not historical facts, including
statements which may be accompanied by the words “intends,” “may,”
“will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,”
“estimates,” “aims,” “believes,” “hopes,” “potential” or similar
words. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties and
assumptions that are difficult to predict. Actual results could
differ materially from those described in these forward-looking
statements due to certain factors, including without limitation,
the Company's ability to achieve profitable operations, our ability
to successfully integrate acquisitions into our business
operations, customer acceptance of new services, the demand for the
Company’s services and the Company’s customers' economic condition,
the impact of competitive services and pricing, general economic
conditions, the successful integration of the Company’s past and
future acquired brokerages, the effect of the recent National
Association of Realtors' landmark settlement on our business
operations, and other risk factors detailed in the Company's
filings with the United States Securities and Exchange Commission
(the "SEC”). You are urged to carefully review and consider any
cautionary statements and other disclosures, including the
statements made under the heading “Risk Factors” in our Annual
Report on Form 10-K for the fiscal year ended December 31, 2023,
and other reports and documents that we file from time to time with
the SEC, including our Quarterly Report on Form 10-Q for the fiscal
quarter ended March 31, 2024. Forward-looking statements contained
in this press release are made only as of the date of this press
release, and La Rosa does not undertake any responsibility to
update any forward-looking statements in this release, except as
may be required by applicable law. References and links to websites
have been provided as a convenience, and the information contained
on such websites has not been incorporated by reference into this
press release.
For more information, contact:
info@larosaholdings.com
Investor Relations Contact:Crescendo
Communications, LLCDavid Waldman/Natalya RudmanTel: (212)
671-1020Email: LRHC@crescendo-ir.com
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