UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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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):
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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).
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Item 8.01. Other Events.
On January 8, 2024, Janover Inc., a Delaware corporation (the “Company”) issued a press release announcing that it has launched a new insurtech entity as a wholly owned subsidiary of the Company, Janover Insurance Group Inc. With the new subsidiary, the Company aims to transform the landscape of commercial property insurance through the application of generative AI and its unique access to data on the commercial property market.
The press release also announced that the Company has retained Mr. Tyler Schapiro (the “Consultant”), as a strategic advisor for its newly established commercial insurance arm, Janover Insurance Group Inc. In connection therewith, the Company has granted the Consultant 10,000 non-qualified stock-options (the “Equity Award”) of the Company. The Equity Award will be subject to the terms and conditions set forth in the Company’s 2023 Equity Incentive Plan (the “Plan”) and the applicable award agreement between the Company and the Consultant. One hundred percent (100%) of the Equity Award will vest on the one-year anniversary of the vesting commencement date. The Equity Award shall cease to vest on the date that notice of termination is given by either party to the other.
A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
The information in this Item 8.01 of Form 8-K and Exhibit 99.1 attached hereto is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
Item 9.01. Financial Statement and Exhibits.
(d) Exhibits.
Exhibit No. | Description | |
99.1 | Press Release | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: January 11, 2024 | JANOVER INC. | |
By: | /s/ Blake Janover | |
Name: | Blake Janover | |
Title: | Chief Executive Officer and President |
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Exhibit 99.1
Janover Launches its Insurtech Startup, Janover Insurance Group
Transforming the Landscape of Commercial Property Insurance through Generative AI
Engages Tyler Schapiro, CEO of Flagler Insurance as a Consultant
Boca Raton, FL – January 8, 2024 – Janover Inc. (Nasdaq: JNVR) (“Janover” or the “Company”), an AI-enabled platform for commercial real estate transactions, today announced that it has launched a new insurtech as a wholly owned subsidiary, Janover Insurance Group. This new venture is set to seamlessly integrate with Janover’s powerful generative AI applications and directly plug into its industry-leading marketing funnel. By leveraging Janover’s marketing funnel, which has over 88 million annual impressions on Google, Janover Insurance Group is expected to immediately gain broad distribution and enhance operational efficiencies.
Janover Insurance Group aims to transform the landscape of commercial property insurance through the application of generative AI and its unique access to data on the commercial property market. Initially focusing on multifamily and commercial property insurance, the subsidiary plans to expand its services to include Small and Medium Business (“SMB”) clients as it scales. This strategic expansion is aligned with Janover’s mission to deliver long-term shareholder value and enhance the success of its ecosystem by providing comprehensive, tech-first solutions to its commercial, multifamily, and small business entrepreneur customers.
“Our entrance into insurtech with Janover Insurance Group signifies a pivotal step on our ongoing journey to improve financial services for commercial real estate and SMB enterprises by building best in class, tech first solutions where they are most needed.” said Blake Janover, Chairman, and CEO of Janover Inc. “We believe that this specialized insurtech arm is the ideal product to add to our ecosystem as it solves a meaningful pain point in the market and leverages technology and systems we’ve already built. Our expertise in the practical application of generative AI and building marketplaces, combined with our robust marketing capabilities, positions us uniquely to redefine the commercial insurance space and offer unparalleled service to our clients. It further creates an end-to-end tech-first financial services firm for our customers; further enhancing our revenue with recurring, predictable income. By strengthening our financial foundation, we will be able to better service our customers as we continue to scale.”
To further bolster its expertise, Janover has engaged Tyler Schapiro, CEO of Flagler Insurance, as a strategic advisor for its commercial insurance arm. Mr. Schapiro brings nearly a decade of industry experience, including a proven track record in leading insurance agencies and executing roll-up strategies.
“The addition of Mr. Schapiro is a testament to our commitment to excellence and to surrounding ourselves with industry leaders,” added Blake Janover. “His experience executing on rollups, hiring and insights will be invaluable as we navigate this exciting new chapter in our journey.”
About Janover Inc.
Janover is a B2B fintech marketplace connecting commercial property borrowers and lenders with a human touch. The Company seeks to revolutionize the commercial real estate lending market by making it hyper-efficient, transparent, and accessible to all rather than the few. Through the Company’s online platform, it provides technology that connects commercial mortgage borrowers looking for capital to refinance, build, or purchase commercial property, including, but not limited to, apartment buildings, to commercial property lenders. Borrowers include, but are not limited to, owners, operators, and developers of commercial real estate including multifamily properties and most recently, a growing segment of small business owners, which Janover believes represents a significant growth opportunity. Lenders include small banks, credit unions, REITs, Fannie Mae® and Freddie Mac® multifamily lenders, FHA® multifamily lenders, debt funds, CMBS lenders, SBA lenders, and more. Additional information about the Company is available at: https://janover.co/.
To view the latest investor presentation, please visit https://ir.janover.co/.
Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” strategy,” “future,” “likely,” “may,”, “should,” “will” and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) the effect of and uncertainties related the ongoing volatility in interest rates; (ii) our ability to achieve and maintain profitability in the future; (iii) the impact on our business of the regulatory environment and complexities with compliance related to such environment; (iv) our ability to respond to general economic conditions; (v) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (vi) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth and other risks and uncertainties more fully in the section captioned “Risk Factors” in the Company’s Registration Statement on Form S-1 related to the public offering (SEC File No. File No. 333-267907) and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company’s actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Contact:
Crescendo Communications, LLC
Tel: 212-671-1020
Email: jnvr@crescendo-ir.com
Cover |
Jan. 08, 2024 |
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Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Jan. 08, 2024 |
Entity File Number | 001-41748 |
Entity Registrant Name | JANOVER INC. |
Entity Central Index Key | 0001805526 |
Entity Tax Identification Number | 83-2676794 |
Entity Incorporation, State or Country Code | DE |
Entity Address, Address Line One | 6401 Congress Avenue |
Entity Address, Address Line Two | Suite 250 |
Entity Address, City or Town | Boca Raton |
Entity Address, State or Province | FL |
Entity Address, Postal Zip Code | 33487 |
City Area Code | 561 |
Local Phone Number | 559-4111 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, par value $0.00001 per share |
Trading Symbol | JNVR |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | true |
Elected Not To Use the Extended Transition Period | false |
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