Group 1 - Reliance Global Group, Inc. has announced a private placement for the issuance and sale of 1,488,096 shares of common stock and short-term warrants to purchase up to 2,976,192 shares at a price of $1.68 per share, with expected gross proceeds of approximately $2.5 million [1][3] - The short-term warrants will be exercisable at an exercise price of $1.43 per share and will expire two years from the effective date of the Resale Registration Statement [1][3] - The company intends to use the net proceeds from the offering for working capital and general corporate purposes [3] Group 2 - H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering [2] - The securities offered in the private placement are not registered under the Securities Act and are only available to accredited investors [4] - The company has agreed to file registration statements with the SEC covering the resale of the shares and shares issuable upon exercise of the warrants [4] Group 3 - Reliance Global Group, Inc. is an InsurTech pioneer utilizing AI and cloud-based technologies to enhance efficiencies in the insurance agency and brokerage industry [6] - The company's platform, RELI Exchange, provides independent insurance agencies with business development tools to compete effectively with larger agencies [6] - Reliance also operates a consumer platform, 5minuteinsure.com, which offers competitive online insurance quotes for auto, home, and life insurance [6]
Reliance Global Group Announces Up To $6.75 Million Private Placement Priced At-The-Market Under Nasdaq Rules