Reliance Global Group, Inc. Common Stock (RELI)
Reliance Global Group, Inc. (RELI) is a diversified holding company that focuses on providing insurance, financial services, and related products. It primarily operates through its subsidiaries, offering solutions such as health, life, and property insurance, as well as risk management and insurance brokerage services. The company aims to serve both individual and commercial clients by leveraging its portfolio of specialized insurance products.
Company News
Reliance Global Group announced a private placement of up to $6.75 million, with $2.5 million upfront and up to an additional $4.25 million from the exercise of short-term warrants. The company plans to use the proceeds for working capital and general corporate purposes.
Reliance Global Group has announced revised terms for its acquisition of Spetner Associates, reducing the upfront cash payment required. The transaction is expected to close in the second half of 2024 and significantly boost Reliance's annual revenue and Adjusted EBITDA.
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