Company: LRHC
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112656
Chunk: 216

Company: La Rosa Holdings Corp.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 8
Chunk 216
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As
of December 31, 2024, the Company qualified as a “controlled company” because more than 50% of the voting power for the election
of directors was held by Joseph La Rosa, our Chief Executive Officer and Chairman. As a result of certain sales under the Company’s
previously announced at-the-market offering, as of April 16, 2025, Mr. La Rosa no longer held more than 50% of the voting power for the
election of directors. As a result, the Company was no longer considered a “controlled company” for the purposes of the listing
requirements of the Nasdaq Capital Market. Since the Company did not avail itself of certain of the controlled company exemptions afforded
by Nasdaq to controlled companies, such change in the Company’s status did not result in any corporate governance changes for the
Company. On July 7, 2025, the Company regained a “controlled company” status as a result of a Reverse Stock Split that provided
Mr. Joseph La Rosa with possession of more than 50% of the voting power of the Company.

Reverse
Stock Split

On
July 2, 2025, the Company effected a 1-for-80 reverse stock split of the common stock, issued and outstanding, effective as
of 12:01 a.m. (New York time) on July 7, 2025. On February 4, 2025, the Company’s stockholders holding a majority of the voting
power of the Company by a written consent approved the amendment to the Company’s Amended and Restated Articles of Incorporation,
as amended, to effect a reverse stock split of the Company’s common stock at a ratio in the range of 1-for-20 to 1-for-100,
with such ratio to be determined by the Company’s Board of Directors. Such resolution became effective on March 28, 2025, or twenty
(20) days after the Company filed with the SEC and mailed to its stockholders respective Information Statement on Schedule 14C on or
approximately March 7, 2025. Following such stockholders’ approval, the Board of Directors determined to effect the reverse
stock split at a ratio of 1-for-80 (“Reverse Stock Split”). As a result of the Reverse Stock Split, every eighty (80)
shares of issued and outstanding common stock were automatically combined into one (1) issued and outstanding share of common stock.
Unless noted