Reliance Global Group Announces 1-For-17 Reverse Stock Split

Author: Benzinga Newsdesk | June 26, 2024 09:18am

Reliance Global Group, Inc. (NASDAQ:RELI, RELIW))) ("Reliance", "we" or the "Company") today announced that the Company's Board of Directors approved a 1-for-17 reverse stock split (the "Reverse Stock Split") of the Company's common stock (the "Common Stock") in order to regain compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market (Rule 5550(a)(2)). The Company was not required to obtain shareholder approval to effectuate the Reverse Stock Split. The Company filed articles of amendment to the Company's articles of incorporation, as amended, with the Secretary of State of the State of Florida to effectuate the Reverse Stock Split as of 5:00 p.m. Eastern Time on June 28, 2024. The Common Stock will begin trading on The Nasdaq Capital Market on a reverse split-adjusted basis at the start of trading on July 1, 2024, under the symbol "RELI" and under a new CUSIP number, 75946W 405.

Posted In: RELI