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Reliance Global Soars 41.47% on $6.75M Placement, Fortman Sale
Generated by AI AgentAinvest Pre-Market Radar
Thursday, Jun 19, 2025 4:47 am ET1min read
Reliance Global's stock surged by 41.47% in pre-market trading on June 19, 2025, marking a significant rise that has caught the attention of investors and analysts alike.
Reliance Global Group has secured a private placement agreement for up to $6.75 million, priced at-the-market under Nasdaq rules. This strategic move is aimed at supporting the company's InsurTech initiatives and overall business growth strategies. The transaction is expected to close around June 20, 2025, subject to standard closing conditions.
In addition to the private placement,
Group has signed a letter of intent to sell Fortman Insurance for $5 million in cash. This transaction highlights the company's strategic execution and its efforts to unlock capital, further bolstering its financial position and growth prospects.
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