IPOS - Reliance Global Group Inc. Withdraws Proposed Underwritten Public Offering | Benzinga
Lakewood, NJ, Nov. 21, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (NASDAQ:RELI) ("Reliance Global Group" or the "Company"), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency under the RELI Exchange umbrella, today announced it has withdrawn its previously announced underwritten public offering.
Ezra Beyman, CEO of Reliance, commented, "I am committed to protecting the interests of our shareholders and did not believe the final terms were favorable. As a result, we chose not to raise capital in this market. As in the past, I have been and am willing to step in and fund cash needs of the Company, should there be a need. We at Reliance are very excited about the Company's horizon and prospects as we continue to follow through on our OneFirm vision and RELI Exchange consolidation, expected to bring even greater returns to our investors."
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Reliance Global Group
Reliance Global Group, Inc. (NASDAQ:RELI, RELIW)) ...