RELI - Reliance Global prices $4M in shares and pre-funded warrants private placement offering
2023-03-14 06:09:23 ET
- Reliance Global ( NASDAQ: RELI ) entered into a securities purchase agreement with a single institutional investor to raise gross proceeds of ~$4M through the private placement of 155,038 shares and 897,594 pre-funded warrants and warrants to purchase 2.1M shares underlying the common warrants.
- Each share or pre-funded warrant is being sold together with accompanying warrants at a combined effective purchase price of $3.80.
- The pre-funded units will be sold at the same price as the units less the pre-funded warrant exercise price of $0.001; warrants will be exercisable six months from issuance date at an initial exercise price of $3.55/share and will expire five and a half years from issuance date.
- Private placement is expected to close on Mar.16, 2023.
- Net proceeds to be used for general working capital and administrative purposes.
For further details see:
Reliance Global prices $4M in shares and pre-funded warrants private placement offering