Key facts
- REMAX and Real have released preliminary results for Real's acquisition of REMAX.
- Cash elections by REMAX stockholders surpassed the $80 million maximum, leading to proration.
- Cash electors are anticipated to receive about $4.33 and 0.3535 Real REMAX shares per share.
- Other REMAX shareholders are expected to receive 0.5150 Real REMAX shares per share.
- The merger is scheduled to close on August 24, 2026, subject to final court approval.
- REMAX CEO Erik Carlson will join the Real REMAX Board after the acquisition.
The Real Brokerage Inc. is proceeding with its acquisition of REMAX Holdings Inc., with preliminary results indicating that the number of REMAX stockholders who opted for cash payments has exceeded the deal's $80 million cap. This excess election has triggered a proration process, meaning those who chose cash will receive a reduced cash amount per share, along with a portion of Real REMAX shares.
Under the terms of the merger agreement, REMAX Class A common stock shareholders could elect to receive either 0.5150 shares of Real REMAX Group Inc. stock (adjusted for a 10-for-1 share consolidation) or $13.80 in cash per share. However, the total cash payout is capped between $60 million and $80 million. With over 18.4 million REMAX Class A shares electing cash, the proration will apply.
Preliminary calculations suggest that cash electors will receive approximately $4.33 in cash and 0.3535 shares of Real REMAX common stock per REMAX share. Shareholders who elected stock, or were deemed to have elected stock, will receive 0.5150 shares of Real REMAX common stock per REMAX share. The transaction, which was signed on April 26, 2026, and amended on June 12, 2026, is anticipated to close on August 24, 2026, pending a final order from the Supreme Court of British Columbia.
Following the acquisition's close, REMAX CEO Erik Carlson is slated to step down from his current role and join the Real REMAX Board. Additionally, Jenna Rozenblat, Real's current chief operating officer and chief integration officer, will assume the position of president of the newly formed Real REMAX Group.