Denver, Colorado, October 1, 2013. RE/MAX Holdings, Inc. (the “Company” or “RE/MAX”), one of the world's leading franchisors of real estate brokerage services, today announced the pricing of its initial public offering of 10,000,000 shares of Class A common stock at a public offering price of $22.00 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of Class A common stock to cover overallotments, if any. Shares of the Company’s Class A common stock are expected to begin trading on October 2, 2013 on the New York Stock Exchange under the symbol "RMAX."
The net proceeds of the offering are estimated to be approximately $194.2 million after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering to reacquire regional RE/MAX franchise rights in select markets, redeem preferred membership interests and to repurchase ownership stakes from existing shareholders.
Morgan Stanley, BofA Merrill Lynch and J.P. Morgan are acting as joint book-running managers for the offering. William Blair, RBC Capital Markets and JMP Securities are acting as co-managers for the offering. Perella Weinberg Partners is acting as advisor to RE/MAX. The offering of these securities is being made only by means of a prospectus, copies of which can be obtained from:
BofA Merrill Lynch
A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Over 90,000 agents provide RE/MAX a global reach of more than 90 countries. Nobody sells more real estate than RE/MAX.
RE/MAX, LLC, one of the world’s leading franchisors of real estate brokerage services, is a subsidiary of RE/MAX Holdings, Inc. (NYSE:RMAX).
With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $130 million for Children’s Miracle Network Hospitals®, Susan G. Komen® and other charities.
For more information about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com.