COSTA MESA, Calif. - Real Messenger Holdings Limited, known for its chat-based real estate platform, and Nova Vision Acquisition Corp., a special purpose acquisition company, announced the completion of their business combination. The new entity, Real Messenger Corporation, will start trading on Nasdaq with ticker symbols RMSG and RMSGW from November 20, 2024.
This strategic move, approved by Nova Vision shareholders on September 12, 2024, is set to enhance Real Messenger's digital offerings in the real estate sector. The platform, which boasts over 1 million users, aims to streamline interactions between real estate agents, buyers, sellers, and enthusiasts through its social network design.
Thomas Ma, CEO and Founder of Real Messenger, expressed optimism about the merger's potential to revolutionize industry connections. He emphasized the company's commitment to redefining the real estate journey by focusing on relationships within the sector.
Eric Wong, CEO of Nova Vision, praised the partnership, highlighting Real Messenger's innovative vision and its alignment with Nova Vision's investment strategy. Wong anticipates that the Nasdaq listing will provide Real Messenger with the resources necessary to accelerate its growth.
Legal advisors for the transaction were Nixon Peabody LLP for Real Messenger and Loeb & Loeb LLP for Nova Vision. Brookline Capital Markets, a division of Arcadia Securities, LLC, and D. Boral (OTC:BOALY) Capital LLC acted as capital markets advisors to Nova Vision.
Real Messenger, established in 2022 and headquartered in Costa Mesa, CA, has experienced significant growth, particularly in the U.S., U.K., and Australia. The company's recognition in the industry includes a place on the 2023 HousingWire Tech 100 list and accolades for its CEO in Inman's Best of Proptech awards in 2023.
Nova Vision, founded by Patrick Ngan and Eric Wong, completed its IPO in August 2021, raising approximately $58 million USD. The company focuses on supporting high-potential businesses with innovative technologies.
The press release also contains forward-looking statements regarding the anticipated benefits and future performance of the combined company. However, these statements are not guarantees of future performance and are subject to risks, uncertainties, and assumptions.
This news article is based on a press release statement and provides an overview of the business combination between Real Messenger Holdings Limited and Nova Vision Acquisition Corp.
InvestingPro Insights
As Real Messenger Corporation prepares to debut on Nasdaq, investors might find value in examining Nova Vision Acquisition Corp.'s (NOVV) recent market performance and financial metrics.
According to InvestingPro data, NOVV has seen remarkable price appreciation recently, with a 180.62% return over the past three months and a 208.85% return over the last six months. This surge aligns with the announcement and completion of the business combination with Real Messenger, suggesting strong market optimism about the merger.
However, potential investors should note that NOVV's P/E ratio stands at an exceptionally high 1366.12, indicating that the stock may be trading at a premium compared to its earnings. This is further supported by an InvestingPro Tip which states that NOVV is "Trading at a high earnings multiple."
Another InvestingPro Tip reveals that "Management has been aggressively buying back shares," which could be interpreted as a sign of confidence in the company's future prospects following the merger with Real Messenger.
For those considering an investment in the newly formed Real Messenger Corporation, it's worth noting that InvestingPro offers 13 additional tips for NOVV, providing a more comprehensive analysis of the company's financial health and market position.
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