Articles from Reliance Global Group, Inc.

OneFirm Approach Delivering Results - Drives Increased Revenue, Reduced Expenses, and Growing EBITDA

Lakewood, NJ, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQRELI) (“Reliance” or the “Company”), announced today that it will host a conference call Thursday, November 7, 2024, at 4:30 PM Eastern Time to discuss financial results for the third quarter of 2024 and provide a business update.

New AI-powered feature launches early, positioning RELI Exchange for substantial premium growth and commission revenue boost

Cash required to close reduced by over $2 million

New offering catapults the commission earning ability of RELI Exchange agency partners

Lakewood, NJ, July 19, 2024 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQRELI) (“Reliance” or the “Company”), announced today that it will host a conference call Thursday, July 25, 2024, at 4:30 PM Eastern Time to discuss financial results for the second quarter of 2024 and provide a business update.

LAKEWOOD, N.J., July 17, 2024 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), announced that the Company received notice from The Nasdaq Stock Market on July 16, 2024, indicating that Reliance had regained compliance with the minimum bid price requirement under Nasdaq Rule 5550(a)(2).

Abe Miller, Successful Real Estate Investor and M&A Executive, Joins Reliance to Oversee New Division and Advise on Future Real Estate Transactions

LAKEWOOD, N.J., June 24, 2024 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”) today announced that it has withdrawn its previously filed registration statement with the Securities and Exchange Commission, which was originally filed to register the potential shares issuable under the Series G warrants. As previously announced, the institutional investor holding the Series B and Series G warrants elected to convert all of their warrants into a reduced number of shares issued to the investor on a Rule 144 basis.

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 Company now effectively has a much more simplified capital structure with no known significant institutional warrant holders and no significant warrant overhang.

Transformational acquisition expected to close in the second half of 2024

Definitive agreement to acquire Spetner Associates marks significant milestone in Company’s evolution

Lakewood, NJ, May 16, 2024 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) (“Reliance” or the “Company”), announced today that it will host a conference call Monday, May 20, 2024, at 4:30 PM Eastern Time to discuss financial results for the first quarter of 2024 and provide a business update.

Integration expected to drive significant EBITDA growth and shareholder value in 2024

Lakewood, NJ, April 03, 2024 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) (“Reliance” or the “Company”), announced today that it will host a conference call Thursday, April 4, 2024, at 1:00 PM Eastern Time to discuss financial results for the fourth quarter of 2023 and provide a business update.

LAKEWOOD, NJ, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance” or the “Company”), today announced that it has added the RELI Exchange Client Referral Portal (CRP) into its proprietary InsurTech platform, RELI Exchange.

Reports more than 60% increase in total RELI Exchange policies following onboarding of Fortman Insurance under new “One-Firm” approach

Post acquisition, Reliance’s revenue expected to increase greater than 100%

Lakewood, NJ, Nov. 21, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQRELI) (“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 withdrawn its previously announced underwritten public offering.

Lakewood, NJ, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQRELI) (“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.

Consolidates All Reliance Owned Agencies Under the RELI Exchange Brand

Working Capital Increases by $5.4 million

Lakewood, NJ, Nov. 10, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) (“Reliance” or the “Company”), announced today that it will host a conference call Monday, November 13, 2023 at 4:30 PM Eastern Time to discuss financial results for the third quarter of 2023 and provide a business update.

Working Capital Increases by $6.8 million

Lakewood, NJ, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) (“Reliance” or the “Company”), announced today that it will host a conference call Thursday, August 10, 2023 – 12:00 PM Eastern Time to discuss financial results for the second quarter of 2023 and provide a business update.

RELI Exchange Continuing to Add New Agency Partners and Support Growth

Lakewood, NJ, May 18, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) (“Reliance” or the “Company”), announced that it will host a conference call today, Thursday May 18, 2023 at 4:30 PM Eastern Time to discuss financial results for the first quarter of 2023 and provide a business update.

Investor conference to be held in New York May 10-11

Reports Continued Growth of RELI Exchange Platform

Lakewood, NJ, March 29, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) (“Reliance” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, announced today that it will host a conference call on Thursday, March 30, 2023 - 4:30 PM Eastern Time to discuss financial results for 2022 and provide a business update.

Lakewood, NJ , March 16, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) (“Reliance” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced the closing of its previously announced private placement of common stock (or pre-funded warrants in lieu thereof) and warrants.

LAKEWOOD, N.J., March 16, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today provided preliminary revenue guidance for the 2022 fiscal year. The Company currently projects revenue for the 2022 fiscal year of more than $16.5 million, an increase of greater than 70% compared to 2021.

LAKEWOOD, N.J., March 15, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance Global”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, announced the launch of RELI University, a new innovative communication and training tool developed by RELI Exchange.

LAKEWOOD, N.J., March 14, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that RELI Exchange, its business-to-business (B2B) InsurTech platform and agency partner network, has surpassed 200 agency partners, which represents a greater than 200% increase in agency partners since the launch of RELI Exchange in July 2022. 

Lakewood, NJ, March 13, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) (“Reliance” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency,today announced that it has entered into a securities purchase agreement with a single institutional investor to raise gross proceeds of approximately $4.0 million through the private placement of 155,038 shares of common stock and 897,594 pre-funded warrants and warrants to purchase an aggregate of 2,105,264 shares of common stock underlying the common warrants. Each share of common stock or pre-funded warrant is being sold together with accompanying warrants (together, the “Units” or “Pre-Funded Units”, respectively) at a combined effective purchase price of $3.80 priced at-the-market under Nasdaq rules. The Pre-Funded Units will be sold at the same price as the Units less the pre-funded warrant exercise price of $0.001. The warrants will be exercisable six months from the date of issuance at an initial exercise price of $3.55 per share, subject to adjustments as set forth therein, and will expire five and a half years from the date of issuance. The closing of the private placement is expected to occur on March 16, 2023, subject to the satisfaction of certain customary closing conditions set forth in the securities purchase agreement.

LAKEWOOD, N.J., March 10, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, announced that the Company received notice from Nasdaq on March 9, 2023, indicating that Reliance had regained compliance with the minimum bid price requirement under Nasdaq Rule 5550(a)(2).

LAKEWOOD, N.J., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that on February 7, 2023, the Company’s Board of Directors approved a 1-for-15 reverse stock split (the “Reverse Stock Split”) of the Company’s common stock (the “Common Stock”) in order to regain compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market (Rule 5550(a)(2)). The Company was not required to obtain shareholder approval to effectuate the Reverse Stock Split. On February 22, 2023, the Company filed articles of amendment to the Company’s articles of incorporation, as amended, with the Secretary of State of the State of Florida to effect the Reverse Stock Split as of 5:00 p.m. Eastern Time on that date. On February 23, 2023, the Common Stock will begin trading on the Nasdaq Capital Market (“Nasdaq”) on a split-adjusted basis at the start of trading on February 23, 2023, under the symbol “RELI” and under a new CUSIP number, 75946W306.

LAKEWOOD, N.J., Feb. 14, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) ) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced the conversion of $645,000 of a $1.845 million Company loan (the “Note”), beneficially held by the Company’s CEO, Mr. Ezra Beyman, at $0.64 per share, significantly above the closing market price of $0.55 on February 13, 2023, which is equal to 1,009,390 common shares.

Provides enhanced sales tools and streamlines operations for agency partners

RELI Exchange Agents and Customers are Now Able to Quickly Access Real-Time Life Insurance Quotes, with Minimal Data Input

Adds Another Potential New Revenue Stream for RELI Exchange Agents through a Referral Partnership with Commercial Mortgage Financing Provider

Highly Successful RELI Exchange Platform Helping Drive Revenue Growth

LAKEWOOD, N.J., Nov. 07, 2022 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency announced today that it will host a conference call on Tuesday, November 15, 2022, at 12:00 PM Eastern Time to discuss financial results for the quarter ended September 30, 2022, and provide a business update.

Platform proving to be highly scalable and attracting new agency partners nationwide