Business
Reliance Global Group Announces Closing of $12.42 Million Underwritten Offering Including Full Exercise of the Underwriters Over-Allotment Option
LAKEWOOD, NJ, Feb. 11, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reliance Global Group, Inc. (Nasdaq: RELI), a company engaged in the acquisition and
About this update from Reliance Global Group, Inc.
[{"type":"text","content":"LAKEWOOD, NJ, Feb. 11, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reliance Global Group, Inc. (Nasdaq: RELI), a company engaged in the acquisition and management of insurance agencies in the United States, today announced the closing of an underwritten public offering of 2,070,000 shares of common stock and accompanying Series A warrants at a public offering price of $6.00 per share and accompanying Series A warrant, which included the full exercise of the underwriter’s over-allotment option, for gross proceeds to the Company of approximately $12.42 million, before deducting underwriting discounts and other offering expenses. The Company has listed its common stock and Series A warrants on the Nasdaq Capital Market under the symbols “RELI” and “RELIW\", respectively, which began trading on February 9, 2021. Kingswood Capital Markets, division of Benchmark Investments, Inc. acted as the sole book runner for the Offering. The United States Securities and Exchange Commission (\"SEC\") declared effective a registration statement on Form S-1 relating to these securities on February 8, 2021. A final prospectus relating to this offering has been filed with the SEC. Copies of the final prospectus relating to this offering can be obtained at the SEC's website at www.sec.gov or from Kingswood Capital Markets, division of Benchmark Investments Inc., 17 Battery Place, Suite 625, New York, NY 10004, Attention: Syndicate Department, or via email at [email protected] or telephone at (212) 404-7002. Before investing in this offering, interested parties should read in their entirety the prospectus, which provides more information about the Company and such offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Reliance Global Group, Inc. Reliance Global Group, Inc. (NASDAQ: RELI) is moving forward with its goal to operate in the insurance sector through its insurance brokerage agencies and online insurance businesses, and potentially other sectors. RELI's focus continues to be to grow the Company by pursuing...