Actionable news
All posts from Actionable news
Actionable news in RMAX: RE/MAX HOLDINGS Inc,

RE/MAX Holdings: Re/Max Announces Filing Of Resale Shelf Registration Statement

The following excerpt is from the company's SEC filing.

RE/MAX Holdings, Inc.

(the "Company" or "RE/MAX") (NYSE: RMAX), one of the world's leading franchisors of real estate brokerage services, today announced that it has filed a resale shelf registration statement with the Securities and Exchange Commission ("SEC") relating to the proposed sale from time to time of up to 7.5 million shares of its Class A common stock by its controlling stockholder, RIHI, Inc. The economic interests of existing RE/MAX shareholders will not be diluted by any such sales and RE/MAX will not receive any proceeds from the sale of any Cla ss A common shares by RIHI.

The resale shelf registration statement has been filed with the SEC but has not yet become effective. Shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The resale shelf registration statement is expected to be available for a period of up to three years from the effective date. RIHI will determine the timing of any sale of shares under the registration statement.

RIHI is majority owned and controlled by David Liniger, the Company's Chief Executive Officer, Chairman and Co-Founder, and Gail Liniger, the Company's Vice Chair and Co-Founder.

If all shares being registered on the registration statement were to be sold by RIHI, RIHI would still own common units in RMCO, LLC corresponding to approximately 34.03% of RE/MAX's outstanding Class A common stock and would still hold approximately 50.78% of the voting power of RE/MAX.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of shares of RE/MAX's Class A...