Douglas Elliman Inc. announced that it has entered into a securities purchase agreement to issue senior secured convertible promissory notes for the gross proceeds of $50,000,000 on July 2, 2024. The Convertible Notes bear interest at a rate of 7.0% per annum payable in cash, or, at the Company?s election, 8.0% per annum paid in kind, due semi-annually. The maturity date of the Convertible Notes is July 2, 2029.

The bonds will have an initial conversion price equal to $1.50 per share of Common Stock.