Reliance Global Group Announces Reverse Stock Split

An update from Reliance Global Group (RELI) is now available.

Reliance Global Group, Inc. has announced a 1-for-17 reverse stock split, set to take effect after the Nasdaq market closes on June 28, 2024. This adjustment will also decrease the company’s authorized shares in the same ratio, without requiring shareholder approval. Post-split, the number of outstanding common shares will drop from about 15.7 million to around 921,000, but the par value and terms remain unchanged. Trading on a split-adjusted basis will commence on July 1, 2024.

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