Reliance Global Group (NASDAQ: RELI), a company that combines artificial intelligence (“AI”) and cloud-based technologies with the personalized experience of a traditional insurance agency, announced the closing of a private placement of common stock (or prefunded warrants in lieu thereof) and warrants. According to the announcement, RELI sold 155,038 shares of common stock and accompanying common warrants, along with 897,594 prefunded warrants and accompanying common warrants, to purchase an aggregate of 2,105,264 shares of common stock underlying the common warrants. The announcement noted that the common units were sold at a combined effective purchase price of $3.80 per unit, with prefunded units sold at the same price less the prefunded warrant exercise price of $0.001. Reliance Global Group anticipates using the funds from the private placement for general working capital and administrative purposes.
To view the full press release, visit https://ibn.fm/zyQMa
About Reliance Global Group Inc.
Reliance Global Group, an insurtech pioneer, is working to transform the traditional insurance agency model by combining artificial intelligence (“AI”) with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes the organic expansion of its current portfolio of agencies owned in addition to the growth of 5MinuteInsure.com, its online business-to-consumer platform that utilizes artificial intelligence and data mining to provide competitive insurance quotes within five minutes, and RELI Exchange, its B2B insurtech platform and agency partner network for insurance agents and agencies, designed to give independent agents an entire suite of business-development tools and the ability to effectively compete with national agencies. For more information about the company, visit www.RelianceGlobalGroup.com.
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.InvestorWire.com
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
InvestorWire is part of the InvestorBrandNetwork