Exchange Listing, LLC client LaRosa Realty LLC (“LaRosa” or the “Company”), closed on its IPO and Nasdaq Capital Market Listing on October 10, 2023. The Company’s common stock began trading on Nasdaq under the symbol LRHC and the Company completed an offering of 1,000,000 shares of common stock at an initial public offering price of $5.00 per share. The gross proceeds from the offering, before underwriting discounts and commissions and estimated offering expenses payable by the Company, was $5,000,000. In addition, the Company has granted the underwriters a 45-day option to purchase up to 150,000 additional shares of common stock at the initial public offering price, less the underwriting discount, to cover over-allotments, if any.
The Company believes in agent success and helping Agents “GROW THEIR BUSINESS”. Associates keep 100% of their commission and have access to support through the latest proprietary and cutting-edge technology, corporate and branch office support, in-house education, and marketing support. Established in 2004 and headquartered in Celebration, Florida, La Rosa Realty, LLC has become the fastest growing independently owned 100% commission company in the state of Florida, with nearly (1,300) agents across (16) branch offices throughout Florida, from Jacksonville to Orlando, Tampa, and Miami.
Joe La Rosa said, “This IPO has been a long time in the making. Peter, Gregg, Luisa, and the Exchange Listing Team worked tirelessly to reach a successful outcome amid very challenging market conditions. To have finally secured a Nasdaq Listing is a significant milestone for this company and for the many agents and people this business serves.”
Peter Goldstein, CEO of Exchange Listing added, “Joe’s passion for this business permeates his entire life. Working with Joe and his team was an honor and I am so proud of his dedication and grit in achieving this outcome. There is so much for in store for LaRosa Realty, and I am happy that Exchange Listing is a part of the journey. ”
Alexander Capital L.P. acted as the sole book-running manager for the offering. Sichenzia Ross Ference Carmel LLP served as counsel to the Company. Pryor Cashman LLP served as counsel to the underwriters.
About Exchange Listing
Exchange Listing provides growth companies with direct access to a one-stop solution in the strategic planning and implementation of listing on a senior exchange such as NASDAQ or NYSE in a cost eﬀective and eﬃcient process. We assist clients in going public whether through an initial public oﬀering, listing from another marketplace, merger, or direct oﬀering. We serve as the primary point of contact with the exchange, investment bankers, lawyers, and other service providers. Our founders, strategic partners, and advisors are entrepreneurs with backgrounds in investment banking, securities law, corporate governance, and business management and have served as oﬃcers and directors of public and private companies. We pride ourselves on taking a hands-on role with our clients throughout the listing process.