EZRA News & Events

Reliance Global Group Inc trading halted, news pending

Reliance Global approved a 1-for-40 reverse stock split of the company's common stock to regain compliance with the $1.00 minimum bid price requirement for continued listing on Nasdaq. The company was not required to obtain shareholder approval to effectuate the reverse stock split. The common stock will begin trading on Nasdaq on a reverse split-adjusted basis at the start of trading on May 18 under the symbol "EZRA" and under a new CUSIP number, 75946W 504. Upon implementation of the split, every 40 shares of the company's common stock will convert into one share of common stock without any change to the par value of 8.6c per share and the amount of common stock outstanding will be reduced from approximately 22,230,563 shares to approximately 555,764 shares.

Reliance Global announced it has increased its ownership in Enquantum. Following Enquantum's completion of defined technical and commercial milestones, the company funded the next investment tranche, increasing its equity position in Enquantum to approximately 29%. Upon continued execution against the remaining milestone framework, Reliance expects to obtain a 51% fully diluted controlling interest in Enquantum pursuant to the share purchase agreement, dated February 5, between the company and Enquantum. This investment reflects a structured approach to building controlling positions in high-impact technology platforms through measured execution.