SplitMay 14, 2026, 06:02 AM
Reliance Global Group Approves 1-for-40 Reverse Stock Split
AI Summary
Reliance Global Group's Board of Directors approved a 1-for-40 reverse stock split to regain compliance with The Nasdaq Capital Market's $1.00 minimum bid price requirement. The split is expected to become effective on May 15, 2026, with trading on a reverse split-adjusted basis commencing May 18, 2026. This action will reduce the number of outstanding shares from approximately 22.23 million to about 555,764, while maintaining the par value and shareholder ownership percentages. CEO Ezra Beyman expressed optimism about the company's future and commitment to its business strategy.
Key Highlights
- Board of Directors approved a 1-for-40 reverse stock split.
- The reverse stock split aims to regain compliance with Nasdaq's $1.00 minimum bid price requirement.
- The split is expected to become effective on May 15, 2026, with trading on a split-adjusted basis starting May 18, 2026.
- Shares outstanding will be reduced from approximately 22,230,563 to approximately 555,764.
- The par value of $0.086 per share will remain unchanged.
- The ownership percentage of each shareholder will remain unchanged.