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REMAX cash elections trigger proration ahead of Real merger close Aug. 24

Cash elections exceeded the $80 million cash cap, so cash electors are expected to receive about $4.33 plus 0.3535 Real REMAX shares per share, under preliminary tallies.

Reported · Written up by our desk · Residential

Real Brokerage and REMAX Holdings released preliminary election results for REMAX stockholders as part of Real’s pending acquisition of the franchisor, HousingWire reported. The companies said cash elections exceeded the deal’s $80 million maximum cash pool, activating the merger’s proration provisions.

Under the preliminary allocations, holders of 18,488,134 REMAX Class A shares that elected cash are expected to receive approximately $4.33 in cash per share and 0.3535 shares of Real REMAX common stock per share after the planned share consolidation. REMAX stockholders who elected stock, or were deemed to have elected stock for missing the election, are expected to receive 0.5150 shares per share.

The companies said the merger is expected to close Aug. 24, 2026, subject to a final order from the Supreme Court of British Columbia approving the arrangement components. They also noted the proration ensures the aggregate cash paid to REMAX stockholders falls between $60 million and $80 million.

Real and REMAX said any figures are preliminary until final election results are tallied. They added that no fractional Real REMAX shares will be issued, with fractional shares handled through cash instead.

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