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The Real Brokerage to Voluntarily Delist From Toronto Stock Exchange; Will Continue to Trade on the Nasdaq
TORONTO & NEW YORK--(BUSINESS WIRE)-- The Real Brokerage Inc. (the “Company” or “Real”) (TSX: REAX) (NASDAQ: REAX), the fastest growing publicly traded real
About this update from The Real Brokerage, Inc.
[{"type":"text","content":" TORONTO & NEW YORK--(BUSINESS WIRE)--\nThe Real Brokerage Inc. (the “Company” or “Real”) (TSX: REAX) (NASDAQ: REAX), the fastest growing publicly traded real estate brokerage, today announced that its application for a voluntary delisting of its common shares (each a “Common Share”) from the Toronto Stock Exchange (the “TSX”) has been approved by the Company’s Board of Directors and the TSX. It is expected that the Common Shares will be delisted from the TSX effective as of close of markets on August 11, 2023. The Common Shares will continue to be listed and trade on the Nasdaq Capital Market (the “NASDAQ”) under the symbol “REAX”.\n\n\nReal has decided to pursue the voluntary delisting of the Common Shares following an internal assessment of the relative advantages and disadvantages associated with the continued listing of the Common Shares on the TSX. In arriving at the determination to delist the Common Shares from the TSX, Real considered, among other things, the ongoing fees and expenses associated with maintaining a TSX listing, the minimal trading volume of the Common Shares on the TSX and the availability of an alternative market for the Common Shares on the NASDAQ.\n\n\n“We have a deep appreciation for the Toronto Stock Exchange.” Real Chairman and Chief Executive Officer Tamir Poleg said. “At the same time, as we evaluated our long-term growth strategy and the liquidity afforded by being listed on the NASDAQ, we could no longer justify the financial and administrative costs associated with maintaining a dual listing.”\n\n\nHolders of Common Shares in Canadian brokerage accounts are encouraged to contact their brokers to confirm how to trade their Common Shares on the NASDAQ following the delisting of the Common Shares from the TSX.\n\n\nIn accordance with the TSX Company Manual, the TSX does not require shareholder approval of the voluntary delisting of the Common Shares from the TSX, as an acceptable alternative market will exist for the Common Shares on the date of delisting.\n\n\nReal will continue to be a reporting issuer under applicable securities laws of each of the provinces and territories of Canada following the delisting of the Common Shares from the TSX.\n\n\nAbout Real\n\n\nThe Real Brokerage Inc. (TSX: REAX) (NASDAQ: REAX) is revolutionizing the residential real estate industry by pairing best-in-class t...