RELIANCE GLBL.GR. O.N.

Reliance Global Group agreed with Oak Street Funding to an amendment permitting the approved sale of Southwestern Montana Insurance Center (SMI) and the use of 50% of the proceeds (1,207,324.67 USD) to repay term loan 121393. Upon receipt of the amount, SMI will be released as borrower and all security interests will be discharged; the amendment is subject to customary conditions and includes an amendment fee of 15,000 USD. All guarantors reaffirmed their obligations. The company most recently reported a reduced Q2 net loss, shrinking revenues and continued high cash burn, with a current ratio of 1.63. » Mere på de.investing.com

The board of directors of Reliance Global Group unanimously adopted a one-year shareholder rights plan that expires on September 3, 2027. The plan is triggered if a person or group acquires at least 15% of the common shares without board approval (passive institutional investors: 20%); rights will be issued to shareholders on September 18, 2026. If triggered, shareholders other than the acquirer may buy additional shares at a discount to dilute the purchaser; the board may repurchase rights before they are triggered or redeem them under certain conditions. The company believes the value of its assets is higher than the current market capitalization and sees no action required by shareholders; details are in the Forms 8-K and 8-A12B filed with the SEC. » Mere på de.investing.com