La Rosa Holdings, a Florida-based residential real estate brokerage franchise, filed on Tuesday with the SEC to raise up to $15 million in an initial public offering.
The Celebration, FL-based company plans to raise $15 million by offering 1.5 million units at a price range of $9 to $11. Each unit consists of one share of common stock and one warrant, exercisable at 110% of the IPO price. At the midpoint of the proposed range, La Rosa Holdings would command a market value of $45 million.
Because the company is offering units with warrants attached, La Rosa Holdings will be excluded from Renaissance Capital's 2022 IPO stats.
La Rosa is the holding company for five agent-centric, cloud-based, multi-service real estate companies. Its real estate brokerage business operates primarily under the trade name La Rosa Realty, though it also licenses the trade name Better Homes Realty. The company has five La Rosa Realty corporate real estate brokerage offices located in Florida, 28 franchised offices across six states in the US and Puerto Rico, and an international franchised office in Peru.
La Rosa Holdings was founded in 2004 and booked $29 million in revenue for the 12 months ended March 31, 2022. It plans to list on the Nasdaq under the symbol LRHC. The company filed confidentially on December 17, 2021. Maxim Group LLC is the sole bookrunner on the deal.
