Hot takes on the latest real estate headlines
Cindy Ambuehl Joins AKG | Christie’s International Real Estate
Cindy Ambuehl may be synonymous with luxury westside real estate, but now she’s taking that expertise to a new brokerage home: Christie’s.
The Compass legend has joined Christie’s as the new Executive Director of Luxury Estates at a new AKG Brentwood office.
“I am thrilled to be joining AKG | Christie’s International Real Estate and serving as Executive Director of Luxury Estates at their new Brentwood office,” said Ambuehl. “From the moment I learned about its principles and culture, I knew this was the place where I belonged. AKG and Christie’s unwavering commitment to ethical practices, its dynamic vision and emphasis on building strong relationships with clients and communities, and trust above all else approach, resonates deeply with my own values. I am excited to be part of a brokerage that consistently strives for excellence and upholds the highest standards in everything we do. Together, I am confident that we will achieve great things and make a positive impact in the industry.”
The Brentwood location marks AKG | Christie’s International Real Estate’s 3rd office, further expanding its growing network across The Golden State.
Offerpad Executes 1-for-15 Reverse Stock Split
iBuyer Offered is trying to stave off de-listing by executing a reverse stock split. Generally seen as a sign of financial weakness, the reverse stock split is intended to, among other things, increase the per share trading price of the Class A Common Stock to satisfy the price requirements for continued listing on the NYSE.
The Reverse Stock Split was approved by the Company’s stockholders at its 2023 Annual Meeting of Stockholders on June 8, 2023 with the final 1-for-15 ratio determined by the Company’s board of directors.
Every 15 shares of common stock outstanding and held of record by each stockholder of the company will be automatically reclassified into one new share of common stock. As a result of the reverse stock split, proportionate adjustments will be made to the number of shares of common stock underlying Offerpad’s outstanding equity awards and the number of shares issuable under Offerpad’s equity incentive plans and existing agreements, as well as the exercise price and/or any stock price goals, as applicable.
Offerpad received a noncompliance notice from the exchange in November after the closing price of the company’s shares fell below the required $1 average over a consecutive 30-day trading period.