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Celebration, FL, Feb. 06, 2025 (GLOBE NEWSWIRE) -- La Rosa Holdings Corp. (NASDAQ: LRHC) (“La Rosa” or the “Company”), a holding company for six agent-centric, technology-integrated, cloud-based, multi-service real estate segments, today announced a private placement for gross proceeds of $4.96 million, prior to deducting placement agent fees and other expenses payable by the Company.
The proceeds from the private placement are intended to pay down debt, to fund future potential acquisitions, and to use for other general corporate purposes.
Joe La Rosa, CEO of La Rosa, commented, “We are pleased to secure this investment, which not only fuels our potential expansion but also allows us to eliminate debt and enhance our financial stability. This funding may support highly strategic future acquisitions, allowing us to grow our agent network and further our commitment to delivering innovative, technology-driven real estate solutions. Additionally, by reinforcing our balance sheet, this transaction positions La Rosa for sustained long-term growth. As we execute our growth strategy in 2025, we remain focused on achieving profitability through the acquisition of additional real estate brokerage firms, expanding our agent network, and entering new markets. Our top priority is to create lasting value for our agents, clients, and stockholders as we scale our business."
The closings of potential acquisitions mentioned in this press release are subject to, and contingent upon, the execution of definitive agreements and other related transaction documents by the parties, corporate approval and customary closing conditions. There can be no assurances that these transactions will be consummated.
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 26 La Rosa Realty corporate real estate brokerage offices and branches located in Florida, California, Texas, Georgia, North Carolina and Puerto Rico. The Company also has 6 La Rosa Realty franchised real estate brokerage offices and branches and 3 affiliated real estate brokerage offices in the United States and Puerto Rico. Additionally, the Company has a full-service escrow settlement and title company in Florida.