Curated Social earn-out settled at US$977,810, below the US$1,500,000 maximum
RMA Global Limited (ASX:RMY), trading as Renowned, advises that its subsidiary, RateMyAgent, Inc., has agreed the earn-out consideration with the vendors of Steps Marketing, Inc. (trading as Curated Social). The earn-out is payable under the stock purchase agreement for the acquisition of Curated Social, originally announced to ASX on 22 October 2024.
The earn-out is settled at a total of US$977,810, in full and final settlement of the earn-out. The maximum earn-out under the agreement was US$1,500,000.
A fixed, final figure removes earn-out uncertainty for RMY shareholders, and the agreed amount sits below the maximum.
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How the settlement will be paid
The settlement is split 50/50 between cash and equity. Each half is worth US$488,905, with the equity half paid by way of the issue of new fully paid ordinary shares in RMA Global Limited.
| Component | Amount | Timing | Form | Detail |
|---|---|---|---|---|
| Cash, initial payment | US$146,671.50 | On or about 30 October 2026 | Cash | Part of the US$488,905 cash component |
| Cash, balance | Balance of US$488,905 | 12 monthly instalments up to and including October 2027 | Cash | n/a |
| Shares | US$488,905 | Two equal tranches | 21,968,788 New Shares | Based on A$0.031 per New Share |
The cash terms are:
- US$146,671.50 on or about 30 October 2026
- The balance in 12 monthly instalments up to and including October 2027
Staged cash payments spread the outflow over about 12 months.
The share component
RMY will issue 21,968,788 new fully paid ordinary shares (New Shares) at A$0.031 per New Share. That price was the closing price of RMY’s ordinary shares on ASX on 3 June 2026, the end of the earn-out period, at an exchange rate of AUD/USD 0.717888.
The New Shares will rank equally with existing RMY ordinary shares. An Appendix 3B for the proposed issue of shares was lodged with the ASX on the day of the announcement.
Shareholders weighing the new equity issue may also note that The Real Brokerage’s REMAX acquisition has tripled RMA Global’s North American addressable market to over 105,000 agents without any capital deployed by the company.
The vendors receive equity, which aligns them with shareholders, and the issue adds to RMY’s issued capital.
What is an earn-out?
An earn-out is deferred acquisition consideration, paid after a deal completes if agreed performance targets are met. It is usually capped at a maximum amount, which here was US$1,500,000.
Performance since completion has been visible in the group’s commercial results, with Social Studio, acquired through Curated Social, featuring in more than 70% of revenue added across RMA Global’s 130 plus brokerage wins in H2 FY26.
- The earn-out period ended on 3 June 2026.
- The final amount has now been agreed at US$977,810.
What happens next for RMY shareholders
The announcement sets out the following events:
- Cash payment of US$146,671.50 to the vendors, on or about 30 October 2026 (RateMyAgent, Inc.).
- First tranche of 10,984,394 New Shares issued, on or about 30 October 2026.
- Second tranche of 10,984,394 New Shares issued, on or about 29 January 2027.
- 12 monthly cash instalments of the balance, up to and including October 2027.
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