Recent Updates — EZRA
Reliance Global Group entered into a non-binding letter of intent to acquire the assets, intellectual property, and customer relationships of a privately held technology company's GPU cloud and marketplace business. The proposed asset purchase carries an aggregate consideration of up to $3,750,000, payable entirely in cash. The structure includes $3,000,000 paid at closing, with the remaining $750,000 split between a six-month escrow release contingent on revenue milestones and a twelve-month payment subject to performance goals. An additional $250,000 consulting fee is owed to the seller's founder. The company intends to rebrand as GPU Exchange and change its Nasdaq ticker to XGPU upon closing, anticipated in early November 2026. Reliance Global Group operates insurance and technology businesses.
Reliance Global Group, Inc. has fully repaid its outstanding term loan with Oak Street Funding LLC, eliminating approximately $1 million in annual principal, interest, and service fee payments. The repayment was funded using proceeds from the sale of non-core agencies—Southwestern Montana Insurance Center and Altruis Benefit Consulting—and approximately $1.0 million of cash previously held as collateral. Following this transaction, the company holds more than $6 million in cash on its balance sheet and has no outstanding term debt. Reliance Global Group is an InsurTech company leveraging artificial intelligence and cloud computing to transform the insurance agency and brokerage industry.
Reliance Global Group completed the sale of its Altruis Benefit Consulting subsidiary for an $8 million cash purchase price, with potential additional earnout payments of up to $1 million over three years based on revenue growth. The company received approximately $7.5 million in cash at closing after the buyer paid off a $3.1 million secured promissory note; the remaining balance is held as customary indemnity and working capital holdbacks. This transaction follows the September sale of Southwestern Montana Insurance Center and represents continued execution of the company's portfolio monetization strategy to divest non-core insurance agencies. The proceeds are intended to strengthen the balance sheet and fund investments in its proprietary AI platform, RELI Exchange. Reliance Global Group is an InsurTech company leveraging artificial intelligence and cloud computing to transform the insurance agency and brokerage industry.
Reliance Global Group sold substantially all assets of its employee benefits insurance agency subsidiary, Altruis Benefit Consultants, to Altruis Benefit Management for $8 million. The transaction closed on September 23, 2026, with consideration consisting of approximately $4.44 million in cash, a secured promissory note of roughly $3.1 million maturing September 30, 2026, and holdbacks for indemnity and working capital adjustments. The company also has potential earnout payments up to $1 million based on revenue growth. Proceeds were used to fully repay a $2.18 million secured credit facility with Oak Street Funding. Reliance Global Group operates in the employee benefits insurance brokerage industry.
Reliance Global Group completed the sale of its Southwestern Montana Insurance Center subsidiary to Scali, LLC for $2.625 million in cash at closing on September 11, 2026, with an effective date of September 1, 2026. The transaction was valued at 8.75 times pro forma EBITDA of $300,000 and includes uncapped contingent consideration based on future EBITDA performance exceeding the threshold for the twelve months ending August 31, 2027. Proceeds included a $1,207,324.67 repayment toward outstanding term loan principal with Oak Street Funding LLC. This divestiture supports the company's portfolio monetization strategy to redeploy capital into its proprietary AI platform and reduce debt. Reliance Global Group operates in the InsurTech industry, leveraging artificial intelligence and cloud computing to transform insurance agency and brokerage operations.