Stewards, Inc. (Nasdaq: SWRD) has provided an update on its previously disclosed non-binding letters of intent to acquire two South Florida multifamily properties, PIXL at Plantation and Envy Pompano Beach, with an aggregate implied property value of approximately $240 million, according to a company statement.

The two properties total approximately 544 units — 330 at PIXL at Plantation in Plantation, Florida, and 214 at Envy Pompano Beach in Pompano Beach, Florida. Under the terms contemplated by the letters of intent, Stewards would acquire the existing owners' equity interests through the issuance of restricted shares of common stock at an agreed price of $3.00 per share. The $240 million figure includes property-level debt and does not represent the amount of stock consideration to be issued.

Stewards said it has continued due diligence and discussions on both transactions since its prior disclosure in its quarterly report for the period ending June 30, 2026. The proposed acquisitions may close separately and remain subject to definitive agreements, required approvals, and customary closing conditions. The company said there is no assurance that either acquisition will be completed.

The update follows Stewards' uplisting to the Nasdaq Capital Market, where its common stock began trading under the ticker "SWRD" on Sept. 10, 2026. As of Sept. 11, 2026, the company had 211,149,963 shares of common stock outstanding, with a freely tradable float of 2,088,473 shares, representing approximately 1% of total shares outstanding.

Any securities issued in connection with the proposed acquisitions have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption.