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Reliance Global Group, Inc. (NASDAQ:RELI) announced Wednesday it has entered into an At The Market Offering Agreement with H.C. Wainwright & Co., LLC. Under the agreement, Reliance Global Group may offer and sell, at its discretion, up to $2,026,453 of its common stock through H.C. Wainwright as sales agent.
According to a press release statement, sales of the common stock will be conducted pursuant to Reliance Global Group’s effective registration statement on Form S-3 and a related prospectus supplement filed August 13, 2025. Shares may be sold by methods defined as “at the market offerings,” including transactions on the Nasdaq Capital Market or other trading venues, to or through market makers, or in negotiated transactions.
H.C. Wainwright will receive a commission of 3.0% of the gross sales proceeds for any common stock sold under the agreement. Reliance Global Group will also reimburse the agent for legal counsel fees up to $50,000, as well as additional fees for quarterly and annual due diligence. The company reported a net loss of $6.68 million in the last twelve months, highlighting the importance of this financing arrangement.
The agreement grants H.C. Wainwright a right of first refusal to act as exclusive financial advisor, sole book-running manager, underwriter, or placement agent for certain future strategic transactions or offerings by Reliance Global Group or its subsidiaries for 12 months following the date of the prospectus supplement, subject to specified exceptions and regulatory rules.
The company attached a legal opinion and consent from Zarif Law Group P.C. regarding the common stock as part of the filing.
This information is based on a statement provided in a recent SEC filing.
In other recent news, Reliance Global Group reported a net loss of $2.7 million for the second quarter of 2025, compared to a $1.5 million loss in the same period last year. The company is focusing on strategic initiatives such as debt reduction and product innovation but is currently dealing with increased expenses and competitive pressures. Additionally, Reliance Global has launched a new Client Service Center for its RELI Exchange InsurTech platform. This enhancement aims to allow independent insurance agents to concentrate on acquiring new business while the RELI Exchange team manages client service requests. The service was introduced following organic growth at RELI Exchange, according to the company. These developments reflect Reliance Global’s ongoing efforts to improve its operations and adapt to market challenges.
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