Reliance Global Stock Soars 65.44% After Withdrawing IPO

Reliance Global's stock surged by 65.44% in pre-market trading on June 18, 2025, marking a significant rise that has caught the attention of investors and analysts alike.

Reliance Global recently submitted a request to withdraw its Form S-1 Registration Statement, effectively halting its planned public offering. This decision comes as a strategic move by the company, which had initially filed the registration on January 10, 2025. The withdrawal indicates that the company has chosen not to proceed with the public offering at this time, potentially due to unfavorable market conditions or challenges in raising capital.

The cancellation of the public offering may limit Reliance Global's immediate access to additional funding, which could impact its ability to expand operations or invest in new opportunities. However, the company continues to focus on its existing operations, including a portfolio of insurance agencies across the United States, and remains committed to leveraging its InsurTech innovations to enhance efficiency within the insurance industry.

In addition to its strategic decisions, Reliance Global has also signed a non-binding Letter of Intent to sell its Fortman Insurance Agency subsidiary for $5 million in cash. This move represents a significant step in the company's efforts to streamline its operations and potentially unlock value for shareholders.