Filed Pursuant to Rule 253(g)(2)
File No. 024-11298
REALTYMOGUL APARTMENT GROWTH REIT, INC.
SUPPLEMENT NO. 10 DATED AUGUST 5, 2022
TO THE OFFERING CIRCULAR DATED DECEMBER 21, 2021
This document supplements, and should be read in conjunction with, the offering circular of RealtyMogul Apartment Growth REIT, Inc. (“we,” “our,” “us” or the “Company”), dated December 21, 2021 (the “Offering Circular”), as supplemented. Unless otherwise defined in this supplement, capitalized terms used in this supplement shall have the same meanings as set forth in the Offering Circular.
The purpose of this supplement is to:
● | Update the status of our follow-on offering; |
● | Update our plan of operation; and |
● | Update the description of our common stock. |
Status of our Follow-on Offering
As previously discussed in the Offering Circular, we commenced our initial offering pursuant to Regulation A (the “Offering”) of $50,000,000 in shares of common stock on August 23, 2017. On December 23, 2020, we commenced our follow-on offering pursuant to Regulation A (the “Follow-on Offering”) (together with the Offering, the “Offerings”) of $43,522,230 in shares of common stock. We are continuing to offer in this Follow-on Offering up to $66,875,819 in our common stock, which represents the value of the stock available to be offered as of November 24, 2021 out of the rolling 12-month maximum offering amount of $75,000,000 in our common stock. As of June 30, 2022, we had raised total aggregate gross offering proceeds of approximately $50,487,000 and had issued approximately 4,918,000 shares of common stock in the Offerings, purchased by approximately 3,100 unique investors.
The Follow-on Offering is expected to terminate on or before December 23, 2023, unless extended by our board of directors, as permitted under applicable law and regulations.
Plan of Operation
On July 6, 2022, the Company disclosed there was a reasonable probability that it may acquire an approximately $6,500,000 joint-venture limited partnership equity investment in connection with Fairview Court Townhomes, a 93-unit, Class A townhome community in Vancouver, Washington (the “Property”). As a result of the discontinued participation in the transaction by the sponsor of the transaction, the Company is no longer pursuing this potential investment.
Accordingly, all references in the Offering Circular, as supplemented, to the Property are hereby removed.
Description of Our Common Stock
The following information supplements the section of our Offering Circular captioned “Description of Our Common Stock – Distributions”:
As of July 31, 2022, cumulative since inception, we have paid 18 consecutive quarterly distributions to stockholders totaling over $8,100,000, of which approximately $2,900,000 was paid in cash and $5,200,000 was reinvested in our shares pursuant to the distribution reinvestment plan.