Summary by Moomoo AI
Reliance Global Group, Inc. (RELI.US), a company managing assets in the insurance markets, has announced an 'at the market' offering agreement with EF Hutton LLC, dated February 15, 2024. The agreement allows for the sale of up to $858,637 of Reliance's common stock, par value $0.086 per share, through EF Hutton acting as sales agent or principal. The common stock is listed on the Nasdaq Capital Market under the symbol 'RELI.' The last reported sale price of Reliance's common stock was $0.46 per share as of February 14, 2024. The offering is made under a prospectus supplement and the accompanying base prospectus, with EF Hutton entitled to a fixed commission rate of 3.5% of the gross sales price per share sold. The agreement does not require EF Hutton to sell a specific number of shares or dollar amount but will act on a commercially reasonable efforts basis. The offering aims to provide Reliance with additional capital for corporate purposes, including potential acquisitions and growth strategies.