Reliance Global Group Announces Definitive Agreements For Issuance Of 1.49M Shares And 2.98M Short-Term Warrants At $1.68 Per Share In Private Placement, Expected To Raise $2.5M Plus Potential $4.25M From Warrant Exercises

Author: Benzinga Newsdesk | June 19, 2025 06:46am

Reliance Global Group, Inc. (NASDAQ:RELI) ("Reliance," "we," "us," "our" or the "Company"), today announced that it has entered into definitive agreements for the issuance and sale of an aggregate of 1,488,096 shares of its common stock (or pre-funded warrants in lieu thereof) and short-term warrants to purchase up to an aggregate of 2,976,192 shares of common stock at a purchase price of $1.68 per share (or per pre-funded warrant in lieu thereof) and accompanying short-term warrants in a private placement priced at-the-market under Nasdaq rules. The short-term warrants will be exercisable immediately upon issuance at an exercise price of $1.43 per share and will expire two years from the effective date of the Resale Registration Statement (as defined below). The offering is expected to close on or about June 20, 2025, subject to the satisfaction of customary closing conditions. 

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. 

The aggregate gross proceeds to the Company from the private placement is expected to be approximately $2.5 million, before deducting placement agent fees and other offering expenses payable by the Company. The potential additional gross proceeds to the Company from the short-term warrants, if fully-exercised on a cash basis, will be approximately $4.25 million. No assurance can be given that any of such short-term warrants will be exercised. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.

Posted In: RELI