24/7 Market News Snapshot 17 June, 2025 – Reliance Global Group, Inc. Common Stock (NASDAQ:RELI)

June 17, 2025

DENVER, Colo., 17 June, 2025 (www.247marketnews.com) – (NASDAQ:RELI) are discussed in this article.
Reliance Global Group, Inc. (NASDAQ:RELI), a prominent player in the InsurTech sector, is experiencing a notable surge in its stock price, rising significantly during today’s trading session. Opening at $1.43, RELI surged to $1.689, reflecting an impressive increase of 43.14% from the prior close of $1.180. This robust trading activity, with approximately 2.79 million shares exchanged, showcases heightened investor enthusiasm and suggests potential upward momentum for the company.

In conjunction with its rising market performance, Reliance has announced a critical strategic move via a non-binding Letter of Intent (LOI) to divest its wholly owned subsidiary, Fortman Insurance Agency, for $5 million in cash. This sale is poised to enhance shareholder value, given that the anticipated sale price surpasses the original acquisition cost.

Since the acquisition of Fortman, Reliance has concentrated on operational upgrades and enhancing its leadership, resulting in a well-capitalized agency with a growing customer base. CEO Ezra Beyman articulated the significance of the sale, stating, “The potential transaction underscores our disciplined capital allocation strategy. By optimizing Fortman’s operations, we’re positioned to realize substantial returns that strengthen our balance sheet.”

The proceeds from this sale will support Reliance’s upcoming acquisition of Spetner Associates, a burgeoning insurance platform that is expected to align perfectly with Reliance’s OneFirm strategy. Beyman highlighted that this strategic shift not only fosters substantial cash flow at both the subsidiary and corporate levels but also exemplifies the company’s dedication to meaningful growth.

While the LOI remains non-binding and contingent upon due diligence, Reliance Global Group is committed to keeping stakeholders informed as the transaction unfolds. The company’s focus on innovation and strategic opportunities continues to drive efficiencies and enhance value within the insurance brokerage industry.

Related news for (RELI)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.