Fathom Holdings Completes Successful Stock Offering for Growth
Fathom Holdings Completes Successful Stock Offering
Fathom Holdings Inc. (NASDAQ: FTHM), a trailblazer in technology-driven real estate services, has made a significant stride in its growth journey by closing its underwritten public offering. The company successfully offered 3,000,000 shares of common stock at $2.00 per share, raising over $5.4 million in net proceeds after necessary deductions.
Details of the Offering
The underwriter was granted a 45-day option to acquire an additional 15% of the shares sold in this public offering, demonstrating confidence in the demand for Fathom’s stock. This capital influx is seen as a key opportunity for the company to solidify its financial foundation.
Use of Proceeds
Marco Fregenal, the CEO of Fathom Holdings, emphasized the importance of this capital raise, stating that it will allow the company to enhance sales and marketing initiatives. Additionally, the funds will support strategic opportunities that will further develop their platform and sustain ongoing operations.
Strategic Growth Initiatives
With the increased capital, Fathom Holdings aims to improve its market positioning by accelerating its growth strategy. The company plans to focus on innovative solutions, leveraging its proprietary software, intelliAgent, to better serve its clients and agents.
About Fathom Holdings Inc.
Fathom Holdings operates a national, technology-savvy platform that integrates various aspects of real estate, including residential brokerage, mortgage, title, and software services. Their diverse range of services under brands like Fathom Realty and Encompass Lending makes them a unique player in the real estate industry.
Compliance and Future Outlook
Fathom has filed a shelf registration statement with the Securities and Exchange Commission, ensuring compliance with regulatory requirements as they continue to expand. The company is optimistic about its future, with plans to maintain a growth trajectory while focusing on profitability.
Investor Relations
The investor contact for Fathom Holdings is composed of Matt Glover and Clay Liolios from Gateway Group, Inc. They are available to answer any inquiries related to this offering and future business plans. Investors can reach out via phone or by mail for further information.
Frequently Asked Questions
What is the purpose of Fathom Holdings' stock offering?
The stock offering allows Fathom Holdings to raise capital to strengthen its financial foundation and accelerate its growth strategies.
How many shares were offered in this public offering?
Fathom Holdings offered 3,000,000 shares of common stock at a price of $2.00 per share.
What is the expected impact of the raised capital on the company?
The funds will help enhance marketing initiatives, support ongoing operations, and pursue strategic opportunities designed to foster growth.
Who managed the offering?
Roth Capital Partners acted as the sole manager for the stock offering.
Where can more information about Fathom Holdings be found?
Additional information about Fathom Holdings can be found on their official website, where they detail their services and future plans.
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