secwatch.observer — SEC 8-K summary
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Issuer:     Reliance Global Group, Inc. (EZRA)
CIK:        0001812727
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0001493152-24-019516
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reliance Global Group to acquire Spetner Associates for $13.7M; sees revenue doubling to ~$28M
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- Acquires 80% of Spetner for $13.7M total: $8M cash + stock + promissory note; option to buy remaining 20% based on EBITDA.
- Spetner's BenManage platform serves over 75,000 employees; projected 2024 revenue >$14M and Adjusted EBITDA >$4M.
- Deal anticipated to close in 2024 subject to conditions; company plans $10M equity offering to fund cash portion.
- Acquisition aligns with 'OneFirm' strategy; CEO calls it 'most significant' in company history.
- Post-acquisition, Reliance projects combined revenue of approx. $28M for FY 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1812727/000149315224019516/0001493152-24-019516-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1812727/000149315224019516/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-019516

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