Reliance Global Group acquires Barra & Associates for $7.5M; funds with $6.52M debt

Reliance Global Group, Inc.

Total purchase price of $7.5M: $6M cash at closing, $1.125M due in 6 months, $375K earnout over 2 years.
Acquisition funded by $980K working capital and $6.52M loan from Oak Street Lending (Prime + 2.50%, 10-year term).
Grant Barra appointed SVP; employment agreement: $200K base salary, 5,000 restricted shares per quarter, 3-year term.
Acquisition closed on April 26, 2022; Barra brings 18+ years insurance industry experience.

item 1.01 item 2.01 item 2.03 item 5.02 item 9.01

Executive movements

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Appointed

Grant Barra

Senior Vice President

EZRA · Reliance Global Group, Inc.

Effective: 2022-04-26
Filed: May 2, 2022, 7:59 PM ET

On April 26, 2022, Grant Barra was appointed Senior Vice President of the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Grant Barra was appointed as Senior Vice President at Reliance Global Group, Inc..

Action: appointed
Role: Senior Vice President

Exact text from the filing

On April 26, 2022, Grant Barra was appointed Senior Vice President of the Company.

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Reliance Global Group, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-22-011820

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