92.9 F
San Fernando
Tuesday, Jul 5, 2022

Westlake Village Home Sales Company to Go Public

Everhome Realty Inc., a Westlake Village-based real estate technology company that helps homeowners sell their properties, plans to go public through a Special Purpose Acquisition Company.Alpha Wastewater Inc., which currently trades over the counter with the ticker AWWI, is the black check holding company involved in the transaction.Everhome’s technology allows homeowners to sell their home with representation for a flat fee of $3,950. The company said its public status will provide “access to new capital to accelerate the company's growth plans, including hiring, acquisitions, expanding monetization, and aggressive development of technology and services.”Everhome’s management team, led by leadership Chief Executive David Bartels and Chief Financial Officer Gregg Saunders, will remain intact.“Everhome is at the forefront of massive change coming to residential real estate and marketing,” Bartels said in a statement. “Flat fee real estate is an idea whose time has come.”A Special Purpose Acquisition Company is a publicly traded entity without operations that buys another company. In the case of Everhome, the transaction has been approved by both companies’ board of directors and is expected to close within 30 days.  Shares of Alpha Wastewater (AWWI) closed Friday at a little more than 1 cent a share on the over-the-counter market.

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.

Featured Articles

Related Articles