UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 17, 2020
EXP WORLD HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Delaware | 001-38493 | 98-0681092 |
(State or other jurisdiction | (Commission | (IRS Employer |
of incorporation) | File Number) | Identification No.) |
2219 Rimland Drive, Suite 301
Bellingham, WA 98226
(Address of principal executive offices and Zip Code)
Registrant’s telephone number, including area code: (360) 685-4206
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to section 12(g) of the Act:
Common Stock, par value $0.00001 per share |
| EXPI |
| NASDAQ |
(Title of Each Class) | | (Trading Symbol) | | (Name of each exchange on which registered) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ((§240.12b-2 of this chapter).
Emerging growth company [_]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [_]
Item 8.01 | Other Events |
On June 17, 2020, eXp World Holdings, Inc. (the “Company”, “we”, “us”, “our”, or “eXp”) announced a virtual investor Q&A session to be held on June 19, 2020. This event will be hosted by Glenn Sanford, CEO, Jeff Whiteside, CFO, and Tom White, D.A. Davidson Senior Research Analyst.
This event is intended to be a strategic update for current investors and anyone interested in learning more about the Company. Items of discussion include current financial projections for the end of the second quarter, international and affiliated services expansion, and the growth of the Company’s immersive technology platform, VirBELA.
The information in this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
The Company issued a press release on June 17, 2020 announcing the investor event. A copy of the press release is attached as Exhibit 99.1 to this report and incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Description | |
99.1 |
SIGNATURES
Pursuant to the requirements of the Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| eXp World Holdings, Inc. |
| (Registrant) |
|
|
Date: June 18, 2020 | /s/ James Bramble |
| James Bramble |
| General Counsel |
Exhibit 99.1
eXp World Holdings to Hold Virtual Investor Q&A on June 19
BELLINGHAM, Wash. — June 17, 2020 — eXp World Holdings, Inc. (Nasdaq: EXPI), the holding company for eXp Realty and VirBELA, today announced it will hold a virtual fireside chat between CEO Glenn Sanford and CFO Jeff Whiteside, and D.A. Davidson Senior Research Analyst Tom White on Friday, June 19 at 8 a.m. PT / 11 a.m. ET.
The investor Q&A is open to investors, current shareholders and anyone interested in learning more about eXp World Holdings and its companies.
Date: Friday, June 19
Time: 8 a.m. PT / 11 a.m. ET – 9 a.m. PT / noon ET
Location: VirBELA Open Campus in the Auditorium. Join at virbela.com.
Livestream: expworldholdings.com/events
In advance, eXp World Holdings is releasing the following strategic update:
● | As we approach the end of the second quarter, we are now projecting that eXp World Holdings will report net income for the third quarter in a row. As a result of its cloud-based brokerage strategy, eXp Realty is benefitting from substantial cost savings that competing brokerages in the industry are unable to realize. Based on the current trajectory, this will likely be eXp World Holdings’ most profitable quarter in the history of our company. |
● | Our strategic focus on international growth has intensified. Under new leadership, we are now planning on adding a significant number of agents in international markets during the course of the next year. This will likely result in international markets becoming a material contributor to our growth. |
● | We are planning to aggressively expand our presence in commercial real estate during the coming year and anticipate attracting a significant number of commercial real estate brokers. This initiative is anticipated to lead to commercial real estate becoming a strong contributor to growth of the company. |
● | We continue to gain traction in our affiliated services businesses. We anticipate that during the coming year there will be material contributions to results from growth in Express Offers, IntroLend First Cloud mortgage lending, Silverline Title and Escrow closing, along with the other affiliated services businesses combined. We plan to launch new services and establish new partnerships that will continue to expand our offerings during the coming year. |
● | VirBELA continues to experience a step change in the business. We are engaged with hundreds of new and prospective clients. The business is positioned to substantially benefit from the global shift to remote work. |
Safe Harbor Statement
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the company’s expansion, revenue growth, operating results, financial performance and net income changes. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Annual Report on Form 10-K.
About eXp World Holdings
eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty and VirBELA.
eXp Realty, The Real Estate Cloud Brokerage, is the fastest-growing, global residential real estate company with more than 29,000 agents in the United States, Canada, the United Kingdom and Australia. As a subsidiary of a publicly traded company, eXp Realty uniquely offers real estate professionals within its ranks opportunities to earn eXp World Holdings stock for production and contributions to overall company growth.
VirBELA is an immersive technology platform for business, events and education. Its modern, cloud-based environment provides a virtual experience for workers, attendees, students and more to communicate, collaborate, meet and socialize. For more information, visit the company’s website at virbela.com.
For more information, please visit the company’s website at www.expworldholdings.com.
Connect with eXp World Holdings and its companies: https://expworldholdings.com/social
Media Relations Contact:
Cynthia Nowak
Vice president, marketing and communications, eXp World Holdings
360.419.5285 ext. 116
cynthia.nowak@exprealty.net
Investor Relations Contact:
Raymond “RJ” Jones
Executive Vice President, finance and growth, eXp World Holdings
360.761.4393
investors@expworldholdings.com