(c) During the quarter ended June 30, 2024, no director or officer adopted or terminated: (i) any contract, instruction or written plan for the purchase or sale of securities of the registrant intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) (a "Rule 10b5-1 trading arrangement"); and/or (ii) any "non-Rule 10b5-1 trading arrangement" as defined in Item 408(c) of Regulation S-K 28 Reliance Global Group, Inc. Title of each class Trading Symbol(s) Name of each exchange on which registere ...

Exhibit 99.1 Reliance Global Group Reports Second Quarter 2024 Results and Provides Business Update Spetner Associates Acquisition on Track to Close in Second Half of 2024; Projected to Double Annual Revenue to Approximately $28 Million and Boost AEBITDA Reliance Forms Real Estate Division Headed up by Successful Real Estate Investor and M&A Executive Abe Miller, to Drive Growth and Diversification Simplified Capital Structure- Reliance Removes Warrant Overhang to Unlock Shareholder Value Mr. Beyman conclud ...

LAKEWOOD, N.J., July 01, 2024 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ:RELI, RELIW))) ("Reliance", "we" or the "Company") today announced the formation of a new Real Estate division drawing on Ezra Beyman's extensive background in building the third-largest mortgage brokerage in the nation and accumulating a multi-billion-dollar portfolio of multi-family properties. Furthermore, Abe Miller, successful real estate investor and M&A executive, has agreed to join Reliance to oversee this new divi ...

Upon implementation of the Reverse Stock Split, every 17 shares of the Company's issued and outstanding Common Stock will automatically convert into one share of Common Stock without any change to the par value of $0.086 per share and the amount of Common Stock outstanding will be reduced from approximately 15.7 million shares to approximately 921,000 shares. Following the Reverse Stock Split, the ownership percentage of each shareholder will remain unchanged. Proportional adjustments will be made to the nu ...

Core Viewpoint - Reliance Global Group, Inc. has successfully simplified its capital structure by withdrawing its registration statement for Series G warrants and converting all warrants held by an institutional investor into shares, which is expected to enhance shareholder value and drive significant revenues through the planned acquisition of Spetner Associates [1][4]. Company Overview - Reliance Global Group, Inc. is an InsurTech pioneer utilizing artificial intelligence and cloud-based technologies to enhance efficiencies in the insurance agency and brokerage industry [5]. - The company's business-to-business platform, RELI Exchange, offers independent insurance agencies a comprehensive suite of tools to compete with larger national agencies while reducing operational costs [5]. - The business-to-consumer platform, 5minuteinsure.com, provides quick online insurance quotes for auto, home, and life insurance using AI and data mining [5]. - Reliance also operates a portfolio of retail insurance agencies across the United States, offering a diverse range of insurance products [5].

Mr. Beyman concluded, "Most notably, we are making continued progress on our planned acquisition of Spetner Associates, which is projected to double our annualized revenues to an estimated $28 million and contribute very meaningful cash flow." LAKEWOOD, N.J, June 20, 2024 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ:RELI, RELIW))) ("Reliance", "we" or the "Company") today announced that its final large institutional investor has redeemed all of its outstanding Series B and Series G warrants. The ...

Transformational acquisition expected to close in the second half of 2024 LAKEWOOD, N.J., June 18, 2024 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ:RELI, RELIW))) ("Reliance", "we" or the "Company") today provided an update on the pending acquisition of Spetner Associates. Mr. Beyman concluded, "Our ultimate goal is to build a highly profitable business that delivers substantial returns to our shareholders. We are confident that this transformational acquisition will open up significant opportun ...

Financial Data and Key Metrics Changes - Revenue from commission income increased by $143,000 or 4% to $4.1 million in Q1 2024 compared to $3.9 million in Q1 2023, driven by sustained organic growth [21] - Commission expense rose by $193,000 or 18% to $1.3 million in Q1 2024 compared to $1.1 million in Q1 2023, primarily due to the growth in commission income revenues [21] - Net loss was $5.3 million in Q1 2024, compared to a net loss of $1.8 million in Q1 2023, with the increase linked to a $3.9 million non-cash impairment charge [22] - Adjusted EBITDA came in at a nominal negative $74,000 for the quarter, with expectations for improvement as the fiscal year progresses [43] Business Line Data and Key Metrics Changes - The acquisition of Spetner is expected to enhance Reliance's market position and service offerings, with Spetner anticipated to contribute over $14 million in revenue and $4 million in EBITDA for fiscal year 2024 [38][39] - The integration of Spetner's benefits solutions is expected to create significant synergies, particularly in cross-selling personal lines of insurance [19] Market Data and Key Metrics Changes - The strategic integration aims to expand Reliance's presence within the $436 billion global insurance agency brokerage market, positioning the company as a technology-driven enterprise [20] Company Strategy and Development Direction - The company is focused on a "one firm" approach, integrating its nine owned and operated agencies into a unified entity to improve revenue and profitability [9] - The acquisition of Spetner is viewed as a pivotal moment for the company, aimed at transforming the insurance industry and enhancing operational efficiency [11][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the acquisition of Spetner as a significant turning point, expected to double revenue and enhance capabilities [37][38] - The company is committed to operational efficiency and technological innovation, aiming to evolve into a profitable, multi-billion dollar enterprise [39][40] Other Important Information - Salaries and wages increased by $76,000 or 4% in Q1 2024, while general and administrative expenses rose by $537,000 to $1.4 million, driven by acquisition costs and regulatory compliance [42] Q&A Session Summary Question: When is the expected closing date for the Spetner acquisition? - Management anticipates closing in the third quarter, with expectations for the acquisition to contribute significantly to revenue shortly after [25][45] Question: Will there be efforts to realize synergies post-acquisition? - The financial guidance provided is based on Spetner as a standalone entity, with potential for additional synergies to be realized post-acquisition [26] Question: Can you provide details on the acquisition's financials? - The acquisition consideration is approximately $13.7 million, with $8 million in cash and the remainder in a promissory note, translating to about four times forward EBITDA [27] Question: What will the balance sheet look like post-acquisition? - The acquisition is expected to increase receivables and fixed assets, with a substantial uptick in cash due to the high cash nature of the business [29] Question: What progress has been made on the "one firm" vision? - The company is consolidating carrier contracts and unifying agency management systems to enhance administrative processes and reporting capabilities [31][56]

As filed with the Securities and Exchange Commission on May 20, 2024 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Pre-Effective Amendment No. 1 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Reliance Global Group, Inc. (Exact name of registrant as specified in its charter) Registration No. 333-276536 Florida 524210 46-3390293 (State or Other Jurisdiction of (Primary Standard Industrial (I.R.S. Employer Incorporation or Organization) Classification Code Number) I ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-40020 RELIANCE GLOBAL GROUP, INC. (Exact name of registrant as specified in its charter) | Florida | 46-3390293 | | --- | --- ...