La Rosa Holdings Corp. (NASDAQ: LRHC) recently reported in an 8-K filing a mediated settlement agreement signed on October 18, 2024, with Nona Legacy Powered by La Rosa Realty, Inc., a subsidiary, and Joseph La Rosa. In the settlement, La Rosa Holdings Corp. (“the Company”) agreed to purchase 49 shares of capital stock of LRLN from Norkis Fernandez, representing 49% of the stock, and agreed to pay $11,904.76 monthly to Fernandez over 7 years. Additionally, 49% of LRLN stock was pledged as security, and pending lawsuits were to be dismissed. Restrictions on Fernandez selling company shares were outlined until the value reaches $5 on Nasdaq.
Ms. Fernandez further assigned the 49 shares of LRLN capital stock to the Company, effectively turning LRLN into a wholly-owned subsidiary. A stock pledge agreement was also signed on October 21, 2024. The Agreement indicated relevant details not disclosed in the Form 8-K filing.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read La Rosa’s 8K filing here.
About La Rosa
La Rosa Holdings Corp., through its subsidiaries, operates primarily in the residential real estate market in the United States. The company operates through five segments: Real Estate Brokerage Services (Residential), Franchising Services, Coaching Services, Property Management, and Real Estate Brokerage Services (Commercial).
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