Douglas Elliman Lists On The NYSE Under Ticker Symbol 'DOUG'

Douglas Elliman Inc. (NYSE: DOUG) (“Douglas Elliman”) has completed its previously announced spin-off from Vector Group Ltd. (NYSE: VGR). On Thursday December 30, 2021 Douglas Elliman officially began trading on the New York Stock Exchange under the symbol “DOUG” and has been added to the S&P SmallCap 600®.

Douglas Elliman Realty, LLC is one of the largest residential brokerage companies in the New York metropolitan area and the sixth largest in the U.S. Douglas Elliman has an established and growing presence in most major luxury markets – primarily international finance and technology hubs that are densely populated and offer housing inventory at premium pricing points. Douglas Elliman’s attractive financial profile includes a strong balance sheet with $200 million of net cash and significant operating leverage, supported by a track record of impressive revenue growth, disciplined expense management led by seasoned industry executives, healthy margins and limited capital expenditures.

As a standalone company, Douglas Elliman will leverage these core competencies and differentiated market focus to pursue profitable growth opportunities through market expansion, retention and recruitment of best-in-class talent and acquisitions and acqui-hires. Douglas Elliman will also source, use and invest in early-stage, disruptive property technology (“PropTech”) solutions and companies that easily integrate into its technology foundation, allowing Douglas Elliman to remain flexible, nimble and asset-light while providing cutting-edge solutions that improve client, customer and agent experience.

“Today marks an exciting new chapter for Douglas Elliman,” said Howard M. Lorber, Chairman and Chief Executive Officer of Douglas Elliman. “As a standalone company, Douglas Elliman will leverage its differentiated approach, portfolio of innovative technology services and a best-in-class team of employees and agents to capitalize on growth opportunities in the highly attractive U.S. residential real estate market. We believe there is a bright future ahead for our company as a standalone entity.”

“We are thrilled that Douglas Elliman has reached this milestone – one that would not be possible without the hard work and dedication of our incredible agents and employees,” said Scott Durkin, Chief Executive Officer of Douglas Elliman Realty, LLC. “As a standalone company, we look forward to building on Douglas Elliman’s leading luxury brand and longstanding tradition of excellence, while continuing to drive long-term value for stockholders.”

Crixus BH3 Acquisition Company Announces Pricing Of $200 Million Initial Public Offering

Crixus BH3 Acquisition Company (the “Company”) today announced the pricing of its initial public offering (“IPO”) of 20,000,000 units, at a price of $10.00 per unit. The units will be listed on the Nasdaq Global Market (the “Nasdaq”) and trade under the ticker symbol “BHACU” beginning October 5, 2021. The Crixus BH3 Acquisition Company SPAC (special-purpose acquisition company) was formed by real estate investment and development firm BH3 Management and is led by co-CEOs Gregory Freedman and Daniel Lebensohn.

Each unit consists of one share of the Company’s Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Company expects that its Class A common stock and public warrants will be listed on the Nasdaq under the symbols “BHAC” and “BHACW,” respectively.

The Company is a blank check company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue a merger opportunity in any industry or sector, it intends to focus its efforts on businesses that manage, finance, operate, construct, control, own or support real estate or which derive a large component of revenue from real estate, construction or infrastructure related activities.

Guggenheim Securities, LLC and BTIG, LLC are serving as joint bookrunners and underwriters for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price less the underwriting discount to cover over-allotments, if any.

The public offering is being made only by means of a prospectus. When available, copies of the prospectus related to the IPO may be obtained, when available, from Guggenheim Securities, LLC, 330 Madison Avenue, New York, NY, 10017, Attn: Equity Syndicate, telephone: (212) 518-9544 or email: GSEquityProspectusDelivery@guggenheimpartners.com., or BTIG, LLC, 65 East 55th Street, New York, New York 10022, or email: ProspectusDelivery@btig.com.

A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective on October 4, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering is expected to close on October 7, 2021, subject to customary closing conditions.