Boutique Chicago Brokerage Mag Mile Uses Reverse Merger to Go Public

Mag Mile Capital has merged with shell firm Myson


An upstart commercial real estate brokerage in Chicago has gone public following a reverse merger with a publicly-traded shell company. 

Mag Mile Capital announced Thursday it has merged with Myson Inc. to form the new public entity Mag Mile Capital, Inc.. The deal closed on March 30, 2023, according to a joint 8-K filed with the Securities Exchange Commission

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Headquartered in Chicago, Mag Mile has offices in New York, Connecticut, Massachusetts, Florida, Texas and Nevada and specializes in CRE mortgage banking and capital markets brokerage services, including real estate debt placement and equity services, and uses proprietary artificial intelligence to leverage deal flow, according to the company. 

Mag Mile was established by Rushi Shah in 2016 following a merger with two other companies and became head of that entity two years later following multiple partnership buyouts. The boutique brokerage under his command has 14 total employees, according to Shah.  

On Thursday, Shah praised the new entity he created with Myson, and emphasized the growth Mag Mile can expect from the liquidity and cash opportunities from becoming a publicly traded company.      

“Nothing changes for our business. It just allows us to grow. It allows us to consolidate, and bring talent into the business and also bring clients,” Shah told CO. “If someone wants to finance and we’re competing with JLL, then we can throw in stock options and warrants to our clients. We can incentivize people to use stock to do deals and that just means more deal flow for us.”  

Myson had no actual business and served as a public shell company for Reddington Partners, which is managed by one person, Henrik Rouf, according to the joint 8-K. Roughly 88 percent of the new entity will be owned by Shah, while 10 percent will be owned by Rouf’s Reddington Partners. 

Myson had been trading at around 5 cents per share prior to the merger. 

Shah admitted that Myson exists solely to facilitate a deal to bring his brokerage public and characterized the deal he made as a reverse merger — similar to a special purpose acquisition company merger that was recently popular — which allows Mag Mile to avoid the long initial public offering (IPO) process to go public.  

“This essentially allows us to go public, so we don’t have to do an IPO ourselves,” Shah said. “[Myson] exists to buy companies like ours. Companies like ours go public to get currency, stock becomes the currency, and now we can go out and buy other companies, recruit people, find talent, bring people in and give them stock options and do things that public companies do to grow.”  

Mag Mile Capital had commission incomes of $3.3 million last year and gross profits of $1.6 million, according to the joint 8-K filed with the SEC.

Brian Pascus can be reached at