Fathom Holdings Unveils $3 Million Direct Stock Offering to Fuel Growth
Fathom Holdings Announces $3 Million Direct Stock Offering
Fathom Holdings, Inc. (Nasdaq: FTHM) has recently released details about a new registered direct offering, aiming to raise approximately $3 million in capital. This offering involves the sale of 3,505,364 shares of common stock to selected investors at $0.6847 each, alongside 832,639 shares sold to its Board of Directors at $0.7206 per share. The latter price reflects the closing bid on March 10, 2025.
Scheduled to close around March 14, 2025, the offering is subject to the usual closing conditions. Notably, as part of this offering, Fathom intends to appoint Adam Rothstein to its Board, contingent upon Board approval, based on recommendations from the Nominating and Corporate Governance Committee.
The financing round includes contributions from both new and existing investors, with key figures like Adam Rothstein and ReMY Capital Partners III LP stepping in, alongside Board members Scott Flanders and Steve Murray.
Purpose of the Offering
Fathom Holdings plans to utilize the net proceeds from this offering for various corporate, operational, and strategic purposes related to acquisitions. This move indicates the company's commitment to fortifying its position in the competitive real estate sector by acquiring businesses and assets that complement its core services.
The firm combines technology with extensive real estate services, including residential brokerage, mortgage, title insurance, and Software-as-a-Service (SaaS) platforms designed for agents and brokerages. The predominant technology that powers these offerings is the company’s proprietary cloud-based software, intelliAgent.
SEC Compliance and Registration Details
This stock offering is conducted under a previously filed shelf registration statement with the Securities and Exchange Commission (SEC), filed on December 29, 2023. It was declared effective on January 11, 2024, which means Fathom can offer this new stock without needing to reapply each time. Interested parties can find the detailed prospectus on the SEC website or request it directly from the company's corporate office located in Cary, North Carolina.
Company Profile and Future Outlook
Fathom Holdings Inc. operates as a tech-driven real estate services platform, integrating various elements like residential real estate brokerage, mortgage solutions, title services, and software support. The company’s brands encompass Fathom Realty, Encompass Lending, intelliAgent, LiveBy, Real Results, and Verus Title, all tailored to optimize real estate transactions through technology.
As Fathom navigates the complexities of the real estate market, its proactive measures, such as the current offering, showcase a strategic approach to growth, aimed at enhancing overall corporate stability and market presence. Despite potential challenges disclosed in their risk assessments, including fluctuating economic conditions and operational cash flow generation, the firm remains positioned for continual advancement in the alluring and competitive landscape of real estate services.
To connect with investors and provide updates, Fathom is also hosting an investor webinar session shortly, inviting stakeholders to engage directly with company leadership and discuss future directions.
Topics Business Technology）
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