other material
confidence high
sentiment neutral
materiality 0.50
Reliance Global Group closes $2M public offering of common stock and warrants
Reliance Global Group, Inc.
- Gross proceeds ~$2M from 7,407,408 shares (or pre-funded warrants) plus 14,814,816 warrants at $0.27/unit.
- Warrants exercisable at $0.27 per share, expire two years from issuance; placement agent warrants at $0.3375.
- Proceeds earmarked for working capital, M&A strategies, and general corporate purposes.
- Officers and directors subject to 30-day lock-up; company restricted from variable-rate transactions for one year.
- H.C. Wainwright acted as exclusive placement agent, receiving 7% cash fee and 7% warrant coverage.