SmartRent Issues Response to Inaccurate Short Seller Report
11 Setembro 2023 - 3:17PM
Business Wire
SmartRent, Inc. (NYSE: SMRT, “SmartRent” or “the Company”), the
leading provider of smart home and property operations solutions
for the rental housing industry, announced that the recent
“research report” published by a short-seller is inaccurate and
misleading.
The report is littered with unsupported claims and obvious
factual and contextual errors about SmartRent’s business and
prospects. For example, the report draws a variety of negative
conclusions from RET Ventures’ reduced holdings of SmartRent stock.
However, as clearly detailed in RET’s Schedule 13D/A filed on March
17, 2023, their holdings declined as a result of a series of “pro
rata, in-kind distribution[s]” of public securities to its general
and limited partners typical of private venture funds. SmartRent
maintains a close business relationship with RET and RET’s limited
partners remain SmartRent customers. As historically disclosed in
SmartRent’s 10-K, the Company’s churn rate was 0.01% (including
RET’s limited partners). In this and many other instances, the
report implies correlations that do not exist and draws conclusions
that are blatantly untrue.
SmartRent stands by the security of its products and the value
provided to property owners, managers and residents.
SmartRent has assessed the report and will take appropriate
steps to protect its stockholders.
About SmartRent
Founded in 2017, SmartRent, Inc. (NYSE: SMRT) is a leading
provider of smart home and smart property solutions for the
multifamily industry. The company’s unmatched platform, comprised
of smart hardware and cloud-based SaaS solutions, gives operators
seamless visibility and control over real estate assets, empowering
them to simplify operations, automate workflows, benefit from
additional revenue opportunities and deliver exceptional site team
and resident experiences. SmartRent serves 15 of the top 20
multifamily owners and operators, and its solutions enable millions
of users to live smarter every day. For more information, please
visit www.smartrent.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230911924233/en/
Investor Contact Brian Ruttenbur - Senior Vice President,
Investor Relations investors@smartrent.com (480) 371-2828
Media Contact Amanda Chavez - Senior Director, Corporate
Communications media@smartrent.com
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