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8-K: Current report

SEC announcement ·  Jun 25 04:12
Summary by Futu AI
Reliance Global Group, Inc. has reported several significant corporate developments in a recent Form 8-K filing with the SEC. Between May 21, 2024, and June 21, 2024, the company issued a total of 4,243,714 shares of restricted common stock. These issuances were part of transactions involving the company's consultants and the conversion of Series B and Series G common stock purchase warrants. Following these transactions, the total number of issued and outstanding shares of common stock stood at 14,631,210 as of June 21, 2024. Additionally, on June 24, 2024, Reliance Global Group announced the withdrawal of a previously filed registration statement that was intended to register potential shares issuable under the Series G warrants. This decision came after an institutional investor redeemed all outstanding Series B and Series G...Show More
Reliance Global Group, Inc. has reported several significant corporate developments in a recent Form 8-K filing with the SEC. Between May 21, 2024, and June 21, 2024, the company issued a total of 4,243,714 shares of restricted common stock. These issuances were part of transactions involving the company's consultants and the conversion of Series B and Series G common stock purchase warrants. Following these transactions, the total number of issued and outstanding shares of common stock stood at 14,631,210 as of June 21, 2024. Additionally, on June 24, 2024, Reliance Global Group announced the withdrawal of a previously filed registration statement that was intended to register potential shares issuable under the Series G warrants. This decision came after an institutional investor redeemed all outstanding Series B and Series G warrants, converting them into a reduced number of shares. The company's CEO, Ezra Beyman, expressed satisfaction with the simplification of the capital structure and optimism about the company's future, including a planned acquisition expected to significantly increase revenues and cash flows. Reliance Global Group is known for its InsurTech platform, leveraging AI and cloud-based technologies to enhance the insurance agency/brokerage industry.

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