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Reliance Global Group, Inc. Announces Proposed Underwritten Public Offering
Lakewood, NJ, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI) (“Reliance Global Group” or the “Company”), which combines
About this update from Reliance Global Group, Inc.
[{"type":"text","content":"Lakewood, NJ, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI) (“Reliance Global Group” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency under the RELI Exchange umbrella, today announced it has commenced an underwritten public offering. Reliance Global Group intends to use the net proceeds from the offering for working capital to grow the Company and general corporate purposes. EF Hutton LLC is acting as the sole book-running manager for the offering. Anthony L.G., PLLC is acting as legal counsel to Reliance Global and Sichenzia Ross Ference Carmel LLP is acting as legal counsel to EF Hutton for the offering. The proposed offering of common stock is being offered by the Company pursuant to a \"shelf\" registration statement on Form S-3 (File No. 333-275190), which was filed with the U.S. Securities and Exchange Commission (the “SEC”) on October 27, 2023 and declared effective by the SEC on November 7, 2023, and the accompanying prospectus contained therein. The offering is being made only by means of a preliminary prospectus supplement and accompanying prospectus. A final prospectus supplement describing the terms of the public offering will be filed with the SEC and will form a part of the effective registration statement. Copies of the preliminary prospectus supplement, final prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting EF Hutton, division of Benchmark Investments, LLC Attention: Syndicate Department, 590 Madison Avenue, 39th Floor, New York, NY 10022, by email at [email protected], or by telephone at (212) 404-7002. 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 Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is an InsurTech pioneer, leveraging artificial intelligence (AI), and cloud-based technologies, to...