Reliance Global amends promissory note increasing principal to $1.845M; adds conversion feature

Reliance Global Group, Inc.

Principal increased by $345,000 to $1.845M; additional funding from YES Americana between Jan 23–Feb 2, 2023.
Maturity date amended to January 15, 2026; interest rate will not increase after maturity.
Note convertible at any time into common stock at conversion price equal to Nasdaq minimum price.
Securities issued in private placement under Section 4(a)(2) and Regulation D, accredited investor.
Related party transaction with YES Americana Group, LLC.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Reliance Global Group, Inc. amended amendment to the Note with YES Americana Group, LLC valued at principal amount of the Note was increased to $1,845,000 (effective 2023-02-07).

Action: amendment
Agreement: notes offering
Counterparty: YES Americana Group, LLC
Value: principal amount of the Note was increased to $1,845,000
Effective: 2023-02-07

Exact text from the filing

On February 7, 2023, the Company and Americana entered into an amendment to the Note (the "Amendment"), pursuant to which (i) the principal amount of the Note was increased to $1,845,000

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Reliance Global Group, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-004524

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