Insight Partners Sells Significant Number of Shares
In an important announcement, Insight Partners revealed their significant retail securities sale involving The Real Brokerage Inc. This strategic action involved the disposition of 7,788,410 common shares of The Real Brokerage Inc., which notably represents approximately 3.72% of the total stock available.
Details of the Share Transaction
Of the total shares disposed of, 7,000,000 common shares were sold via an off-market block trade facilitated by a broker-dealer. The selling price reached $6.64 per common share, leading to an impressive cash consideration of around $46.49 million. Moreover, the remaining 788,410 shares were traded on the NASDAQ, reflecting an investment strategy aligned with a 10b5-1 plan designed for systematic securities sales. The sale price for these shares averaged $7.22 each, aggregating to about $5.69 million in cash proceeds.
Ownership Before and After Share Disposition
Prior to the share sales, Insight Funds held a significant portfolio that included 24,430,924 common shares, 100,000 options, and 34,965 restricted share units. After the transactions, the ownership reduced to 16,642,514 common shares while retaining the same number of options and restricted units. This represents a decrease to approximately 8.01% of the total outstanding common shares, taking into account the potential future conversion of options and RSUs.
Investment Objectives and Future Trajectory
The primary motive behind selling the resolved common shares was to adjust investment positions strategically. Insight Partners may still consider increasing their stake or liquidating further shares based on future market conditions and opportunities. They have established a structured timeline for the planned sales from July 18, 2025, to July 18, 2026, under the guidance of a pre-set trading plan. This plan aims to provide a safeguard for trading, ensuring compliance with relevant policies during share sales.
Regulatory Compliance and Future Engagements
This notice is issued in adherence to the regulatory requirements set out by National Instrument 62-104 regarding issuer bid disclosures as well as National Instruments pertinent to early warning systems. Insight Partners emphasizes that an extensive early warning report with more detailed analyses will be available through the Company's official channels for stakeholders interested in the specifics of this transaction.
About Insight Partners
Insight Partners is recognized globally for its investment prowess in the realm of high-growth technology and software companies. As of the latest reports, it manages over $90 billion in regulatory assets and has a rich history of around 800 investments across various sectors. With a focus on transformative technology, they aim to empower visionary executives on their journey from initial funding to public offerings.
Frequently Asked Questions
What was the purpose of the share sale by Insight Partners?
The share sale was primarily aimed at adjusting investment positions based on market dynamics.
How many shares did Insight Partners sell in total?
Insight Partners disposed of a total of 7,788,410 common shares of The Real Brokerage Inc.
What percentage of the company's shares does Insight Partners still own?
Post-disposition, Insight Partners retains approximately 8.01% of The Real Brokerage Inc.'s outstanding common shares.
What is the timeframe for the planned share sales under the trading plan?
The anticipated timeframe for the sales under the 10b5-1 trading plan is between July 18, 2025, and July 18, 2026.
What kind of companies does Insight Partners invest in?
Insight Partners specializes in investing in high-growth technology, software, and Internet companies.
