secwatch.observer — SEC 8-K summary
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Issuer:     Reliance Global Group, Inc. (EZRA)
CIK:        0001812727
Form:       8-K
Filed at:   2023-05-24T23:59:59+00:00
Accession:  0001493152-23-018937
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reliance Global issues 352,260 shares to settle $1.43M Fortman acquisition obligations
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- Company issued 176,130 shares each to Jonathan and Zachary Fortman, total 352,260 restricted shares.
- Remaining balance settled: $716,850 per holder, total $1,433,700 in purchase price and earn-out.
- Post-issuance outstanding common stock will be 1,983,308 shares; issuance is ~17.8% of new total.
- If stock closing price below $4.07 on Nov 18, 2023, company must pay cash make-up payment up to $616,850 per holder.
- Shares issued as unregistered under Section 4(a)(2); holders represented as accredited investors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1812727/000149315223018937/0001493152-23-018937-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1812727/000149315223018937/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-018937

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