Reliance Global Group signs LOI to sell Altruis for $11M cash; expects ~$7.6M net after debt repayment

Reliance Global Group, Inc.

All-cash sale of Altruis Benefit Consulting for $11M; $9.35M at closing, $1.65M in escrow for 18 months.
After repaying ~$4.4M term debt, expects ~$7.6M aggregate incremental cash including escrow and released collateral.
Eliminates ~$1M annual interest expense; zero dilution as entire consideration is cash.
Target closing within 60 days; LOI non-binding, no assurance definitive agreements will be reached.

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