Monday, November 14, 2022 6:00:21 PM
"On September 27, 2022, we received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying us that for the preceding 30 consecutive business days (August 15, 2022 through September 26, 2022), our common stock did not maintain a minimum closing bid price of $1.00 per share (“Minimum Bid Price Requirement”) as required by Nasdaq Listing Rule 5550(a)(2). The notice has no immediate effect on the listing or trading of our common stock which will continue to trade on The Nasdaq Capital Market under the symbol “RELI”. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), we initially have a compliance period of 180 calendar days, or until March 27, 2023, to regain compliance with Nasdaq Listing Rules. Compliance can be achieved automatically and without further action if the closing bid price of our common stock is at or above $1.00 for a minimum of ten consecutive business days at any time during the compliance period, in which case Nasdaq will notify us of our compliance and the matter will be closed. If, however, we do not achieve compliance with the Minimum Bid Price Requirement by March 27, 2023, we may be eligible for additional time to comply; however, such additional time is not guaranteed and is subject to the discretion of Nasdaq. In order to be eligible for such additional time, we will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and must notify Nasdaq in writing of our intention to cure the deficiency during the second compliance period
We intend to attempt to take actions to restore our compliance with Nasdaq’s listing requirements, but we can provide no assurance that any action taken by us would result in our common stock meeting The Nasdaq listing requirements, or that any such action would stabilize the market price or improve the liquidity of our common stock. Any perception that we may not regain compliance or a delisting of our common stock by Nasdaq could adversely affect our ability to attract new investors, decrease the liquidity of the outstanding shares of our common stock, reduce the price at which such shares trade and increase the transaction costs inherent in trading such shares with overall negative effects for our stockholder. In addition, delisting of our common stock from Nasdaq could deter broker-dealers from making a market in or otherwise seeking or generating interest in our common stock, and might deter certain institutions and persons from investing in our common stock."
Recent RELI News
- Reliance Global Group Announces Enhanced Terms for Pending Spetner Acquisition • GlobeNewswire Inc. • 09/09/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/27/2024 12:40:28 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/30/2024 12:30:27 PM
- Reliance Global Group Announces Advanced Quote & Bind InsurTech Solution for Commercial Policies Launching in Q4 2024 • GlobeNewswire Inc. • 07/30/2024 12:30:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/25/2024 08:10:47 PM
- Reliance Global Group Reports Second Quarter 2024 Results and Provides Business Update • GlobeNewswire Inc. • 07/25/2024 08:05:52 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/25/2024 08:05:29 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 07/24/2024 08:12:12 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/23/2024 08:15:20 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/19/2024 12:30:34 PM
- Reliance Global Group Schedules Second Quarter 2024 Financial Results and Business Update Conference Call • GlobeNewswire Inc. • 07/19/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/18/2024 12:08:27 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 07/18/2024 12:07:09 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/17/2024 12:30:38 PM
- Reliance Global Group Regains Compliance with Nasdaq Continued Listing Requirements • GlobeNewswire Inc. • 07/17/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/16/2024 07:39:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/16/2024 07:37:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/16/2024 05:56:18 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/16/2024 04:33:33 PM
- Reliance Global Group Announces Formation of New Real Estate Division Aimed at Expanding Operations • GlobeNewswire Inc. • 07/01/2024 12:30:00 PM
- Reliance Global Group Announces Reverse Stock Split • GlobeNewswire Inc. • 06/26/2024 01:15:41 PM
- Reliance Global Group Announces Withdrawal of Registration Statement • GlobeNewswire Inc. • 06/24/2024 12:15:00 PM
- Reliance Global Group Announces Major Enhancement of Capital Structure Following Cashless Exercise of Warrants • GlobeNewswire Inc. • 06/20/2024 12:30:00 PM
- Reliance Global Group Provides Update on Pending Spetner Acquisition • GlobeNewswire Inc. • 06/18/2024 12:30:00 PM
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