Source: Renaissance Capital —
La Rosa Holdings, a Florida-based residential real estate brokerage franchise, lowered the proposed deal size for its upcoming IPO on Wednesday.
The Celebration, FL-based company now plans to raise $7 million by offering 0.7 million units at a price range of $9 to $11. The company had previously filed to offer 1.5 million units at the same range. Each unit still consists of one share of common stock and one warrant, exercisable at 110% of the IPO price. At the revised deal size, La Rosa Holdings will raise -53% less in proceeds than previously anticipated and command a market value of $43 million (-4% vs. original terms).
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