secwatch.observer — SEC 8-K summary
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Issuer:     Reliance Global Group, Inc. (EZRA)
CIK:        0001812727
Form:       8-K
Filed at:   2023-10-04T23:59:59+00:00
Accession:  0001493152-23-035649
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reliance Global Group settles $500K acquisition balance with $75K cash + 174,610 restricted shares
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- Company issued 174,610 restricted common shares and paid $75K cash to Julie Blockey to satisfy $500K remaining earn-out from 2019 purchase of Southwestern Montana Insurance Center.
- Outstanding shares increase to 2,303,975; shares valued at roughly $2.43 each at settlement, implying ~$425K equity portion.
- If RELI closing price is below $2.43 on March 29, 2024, company must pay cash and issue additional shares as a Make-Up Amount (capped at $425K minus value of initial shares).
- Shares issued under Section 4(a)(2) exemption; Holder represented as accredited investor; shares bear restrictive legend.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1812727/000149315223035649/0001493152-23-035649-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1812727/000149315223035649/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-035649

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