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Reliance Global Group, Inc. Series A Warrants - RELIW STOCK NEWS

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Reliance Global Group Inc operates as a holding company with diversified interests in the insurance market, as well as other related sectors. The company focuses on growing by pursuing an acquisition strategy, initially and primarily focused on wholesale and retail insurance agencies. Its primary strategy is to identify specific risks to reward arbitrage opportunities and develop these on a national platform, thereby increasing revenues and returns. The company generates revenue in the form of commissions and is an InsurTech pioneer, utilizing artificial intelligence (AI) and cloud-based technologies to transform and improve efficiencies in the insurance agency/brokerage industry.

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Reliance Global Group (NASDAQ: RELI) reports a transformative 2024, highlighting the success of its OneFirm approach which has driven revenue growth, reduced expenses, and strengthened EBITDA. The company's Q3 2024 showed significant improvements linked to this strategic initiative.

The planned Spetner acquisition is nearing completion in early 2025, expected to nearly double annual revenue to approximately $28 million while boosting Adjusted EBITDA. Notably, Spetner's BenManage voluntary benefit insurance segment has grown from 45,000 to over 85,000 employees covered.

The company aims to build a multi-billion dollar enterprise through strategic expansion and disciplined fiscal management.

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Reliance Global Group (NASDAQ: RELI) reported Q3 2024 financial results showing revenue growth and improved operational efficiency. Commission income increased 5% to $3.4 million, while total operating expenses decreased 16% to $3.9 million. The company achieved a 64% improvement in loss from operations and reported positive Adjusted EBITDA of $43,000, marking a 121% increase year-over-year. The company highlighted the success of its OneFirm strategy and announced progress on the Spetner Associates acquisition, which is expected to nearly double consolidated revenues. Additionally, RELI launched its AI-powered Quote & Bind solution on the RELI Exchange platform.

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Reliance Global Group (NASDAQ: RELI) has announced a conference call scheduled for Thursday, November 7, 2024, at 4:30 PM Eastern Time to discuss their third quarter 2024 financial results and provide a business update. The call will be accessible via toll-free telephone numbers for both U.S. and international callers, and a webcast will be available on the company's website. A replay of the webcast will be accessible until November 7, 2025, while a telephone replay will be available through November 21, 2024.

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Reliance Global Group (Nasdaq: RELI) has launched the beta version of its AI-powered Quote & Bind InsurTech solution for commercial policies ahead of schedule. Initially set for Q4 2024, this early release gives RELI Exchange agency partners immediate access to the technology. The solution enables real-time quotes and instant binding of commercial insurance policies, covering various lines including workers' compensation, general liability, and cyber liability.

This advanced system is expected to enhance revenue streams for RELI Exchange partners by streamlining the quoting process for commercial policies. The company anticipates millions of dollars in new premiums being added to its books in the coming year. The early launch reinforces Reliance's commitment to delivering state-of-the-art technology to its agency partners, positioning both agents and the company for significant growth in the commercial insurance market.

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Reliance Global Group (Nasdaq: RELI) has announced enhanced terms for its pending acquisition of Spetner Associates. The upfront cash payment required to close the transaction has been reduced by over $2 million, from $8 million to $5.5 million. This revision is expected to provide greater flexibility in funding and minimize shareholder dilution. The acquisition remains on track to close in the second half of 2024.

Since the initial announcement, Spetner's BenManage voluntary benefit insurance segment has grown significantly, now covering over 85,000 employees, up from 45,000. The acquisition is anticipated to nearly double Reliance's annual revenue to approximately $28 million and boost Adjusted EBITDA. Reliance views this as a transformative acquisition aligning with its 'OneFirm' strategy, aiming to accelerate growth and enhance shareholder value.

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Reliance Global Group (Nasdaq: RELI) has announced the launch of an advanced AI-powered Quote & Bind InsurTech solution for commercial policies, set to debut in Q4 2024. This new offering, integrated into the RELI Exchange platform, aims to significantly enhance the capabilities of agency partners by enabling real-time quotes from multiple carriers and instant policy binding. The solution covers various commercial insurance lines, including workers' compensation, business owners, general liability, cyber liability, inland marine, and executive lines such as D&O and EPLI.

CEO Ezra Beyman describes the new solution as a 'game-changer' that will empower agents to boost revenue and achieve new levels of success. The company expects to benefit considerably from its share of increased commissions generated by agency partners. Moshe Fishman, Director of Insurtech and Operations, highlighted that a single commercial policy could potentially generate commission revenue equivalent to 100 new homeowner policies, representing a significant organic growth opportunity for Reliance.

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Reliance Global Group (NASDAQ: RELI) reported Q2 2024 results with revenues of $3.2 million, a 1% YoY growth. The company's net loss from continuing operations improved by 62% to $1.5 million. Key highlights include:

1. The pending acquisition of Spetner Associates, expected to close in H2 2024, projecting to double annual revenue to ~$28 million and boost AEBITDA.

2. Formation of a new real estate division led by Abe Miller, focusing on multi-family and commercial properties.

3. Simplified capital structure by removing warrant overhang.

4. Continued implementation of 'OneFirm' strategy, uniting nine agencies nationwide and driving efficiencies.

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Reliance Global Group (NASDAQ: RELI) has announced a conference call scheduled for July 25, 2024, at 4:30 PM Eastern Time to discuss their second quarter 2024 financial results and provide a business update. Investors can access the call via telephone or webcast. The toll-free number for U.S. callers is +1 888-506-0062, while international callers can dial +1 973-528-0011 using access code 246542. A webcast of the call will be available on the company's investor relations website. A replay of the webcast will be accessible until July 25, 2025, and a telephone replay will be available until August 8, 2024.

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Reliance Global Group (Nasdaq: RELI) has regained compliance with Nasdaq's minimum bid price requirement, as announced on July 17, 2024. This achievement is important for maintaining the company's Nasdaq listing and positioning it for long-term success. CEO Ezra Beyman emphasized the importance of this milestone in enhancing shareholder value and supporting the company's growth strategy.

Reliance is actively pursuing strategic initiatives, including the pending acquisition of Spetner Associates and exploring additional accretive opportunities. The company continues to make progress with its OneFirm initiative, aiming to create a more robust and resilient organization to drive growth in revenues, earnings, cash flows, and shareholder value.

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Reliance Global Group (Nasdaq: RELI) has announced the formation of a new Real Estate division. This new division aims to expand the company’s operations in the multi-family and commercial real estate sectors.

Abe Miller, a successful real estate investor and M&A executive, joins Reliance to oversee the division without a fixed salary, being compensated entirely on a success-based model. The division will complement the company's existing focus on acquiring profitable insurance agencies.

CEO Ezra Beyman emphasized the potential of the new division to enhance shareholder value and leverage non-dilutive financing sources. This initiative aligns with Reliance's strategy of accretive, cash flow-positive acquisitions and aims to diversify the company's asset portfolio.

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FAQ

What is the current stock price of Reliance Global Group Series A Warrants (RELIW)?

The current stock price of Reliance Global Group Series A Warrants (RELIW) is $0.0505 as of December 24, 2024.

What is the primary strategy of Reliance Global Group Inc?

Reliance Global Group Inc's primary strategy involves identifying specific risks to reward arbitrage opportunities and developing them on a national platform to increase revenues and returns.

How does Reliance Global Group Inc generate revenue?

The company generates revenue in the form of commissions.

What technologies does Reliance Global Group Inc utilize?

Reliance Global Group Inc leverages artificial intelligence (AI) and cloud-based technologies to transform and improve efficiencies in the insurance agency/brokerage industry.

What is the focus of Reliance Global Group Inc's acquisition strategy?

Reliance Global Group Inc's acquisition strategy is primarily focused on wholesale and retail insurance agencies.

What sectors does Reliance Global Group Inc have interests in?

Reliance Global Group Inc has diversified interests in the insurance market, as well as other related sectors.

How does Reliance Global Group Inc compete with large-scale national insurance agencies?

Reliance Global Group Inc's business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies with business development tools to compete effectively.

What is 5minuteinsure.com?

5minuteinsure.com is Reliance Global Group Inc's business-to-consumer platform that offers competitive online insurance quotes within minutes.

Where can more information about Reliance Global Group Inc be found?

More information about the company can be found at https://www.relianceglobalgroup.com.

What is the contact information for Crescendo Communications, LLC?

Crescendo Communications, LLC can be contacted at Tel: +1 (212) 671-1020 and Email: RELI@crescendo-ir.com.

What is the mission of Reliance Global Group Inc?

Reliance Global Group Inc aims to build RELI Exchange into the largest agency partner network in the U.S. and drive significant shareholder value.

Reliance Global Group, Inc. Series A Warrants

Nasdaq:RELIW

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