Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Reliance Global Group, Inc.: Approved and filed Articles of Amendment to effect a 1-for-15 reverse stock split and decrease authorized shares from 2,000,000,000 to 133,333,333 (effective 2023-02-16).
- Change
- charter amendment
- Effective
- 2023-02-16
Exact text from the filing
On February 7, 2023, the Board of Directors (the “Board”) of Reliance Global Group, Inc., a Florida corporation (the “Company”) approved (i) a reverse stock split of the Company’s issued and outstanding common stock, par value $0.086 per share, on a one (1) for fifteen (15) basis (the “Reverse Stock Split”) and (ii) a decrease of the Company’s authorized number of shares of common stock on the same basis from 2,000,000,000 shares of common stock to 133,333,333 shares of common stock (the “Decrease in Authorized Securities” and the Reverse Stock Split and Decrease in Authorized Securities is referred to together herein as the “Corporate Actions”). The Company filed an Articles of Amendment (the “Amendment”) with the Secretary of State of the State of Florida on February 16, 2023 to effectuate the Corporate Actions.
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