Redefy, a flat-fee brokerage that charges homeowners $3,500 to sell online, has announced plans to go public.
The real estate company has entered into a definitive share exchange agreement with Mister Goody, a publicly traded management consulting firm. In order to become full Mr. Goody subsidiaries by the second quarter of 2019 Redefy will need to secure no less than $1.5 million in financing.
“We believe that with access to public capital markets, Redefy can more effectively continue to grow and become the national leader in the technology-enabled, flat-fee, full-service real estate space,” said Chris Rediger, chief executive officer of Redefy Holdings, in a prepared statement.
Once the transaction is complete, Mr. Goody will be renamed. The new public company will also have 14,909,467 common shares, or 15,485,470 shares on a fully diluted basis.
Rediger will continue to lead the new company as the CEO while the board of directors will include Jim Albertelli and Joel Arberman.
Since launching in 2011, the Denver-based brokerage has been capitalizing on technology to transform the home-sale process. Over the past two years, several real estate companies have either gone public or announced their plans to do so in the future.