Reliance Global Group Inc (RELI)

[shanak10]

Hate to beat a dead horse to a pulp, but....
The quiet period on Wall Street is the period of time before a company's IPO and after the company registers with the Securities and Exchange Commission (SEC). During this time, the company must not share any information that isn't already contained in its registration.

$RELI cannot do an IPO as they already have a symbol, however as per their S1 they will do a secondary offering and the rules apply here too.
From their S1 form

Initial public offering price(1) $ $
Underwriting discounts and commissions(2) $ $
Proceeds to us, before expenses $ $


(1) The assumed public offering price and underwriting discount corresponds to in respect of the Class A Units (a) an assumed public offering price per share of common stock of $____ and (b) an assumed public offering price per Series A Warrant of $____ and Series B Warrant of $____. This is an assumed offering price of $____ per Class A Unit.



(2) Does not include a non-accountable expense allowance equal to 1% of the gross proceeds of this offering payable to Kingswood Capital Markets, the representative of the underwriters. See “Underwriting” for a description of compensation payable to the underwriters. We have agreed to issue warrants to the representative of the underwriters. See “Underwriting” on page 62 of this prospectus for a description of the compensation arrangements.



We have granted a 45-day option to the underwriters, exercisable one or more times in whole or in part, to purchase up to an additional (i) ____ Class A Units or (ii) if Kingswood Capital Markets, as representative of the underwriters, determines that the units shall detach and our shares of common stock and the warrants underlying the units shall begin to trade separately during such 45-day period, an additional _____ shares of common stock at a price of $____ per share and/or ____ additional Series A Warrants at a price of $0.01 per warrant and/or ______ Series B Warrants at a price of $0.01 per warrant, in each case, the underwriting discounts and commissions, to cover over-allotments, if any.



The underwriter expects to deliver our Class A Units against payment on or about [ ], 2020.