RELI - Reliance Global announces 1-for-15 reverse stock split

• Reliance Global ( NASDAQ: RELI ) board approved a 1-for-15 reverse stock split of stock for regaining compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital market.
• The shares will be converted without any change to the par value of $0.086/share and the amount of outstanding stock will be reduced from ~20M shares to ~1.3M shares.
• Starting tomorrow, the company will commence trading on the Nasdaq Capital Market on split-adjusted basis under the same symbol.
• "We are highly encouraged by the rapid growth of the number of independent agents joining our business-to-business InsurTech platform, RELI Exchange, from 65 to 176 independent agents, representing a growth rate of 170%, since May 2022," CEO Ezra Beyman commented.

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