Reliance Global Group Approves 1-for-40 Reverse Split for May 18 Nasdaq Compliance
Reliance Global Group's board approved a 1-for-40 reverse stock split to meet Nasdaq’s $1.00 minimum bid requirement, converting approximately 22.23 million shares into 555,764 shares effective May 18, 2026 under CUSIP 75946W 504. Shareholders’ ownership percentages and incentive award terms will be proportionally adjusted.
1. Reverse Split Approval and Mechanics
Reliance Global Group’s board approved a 1-for-40 reverse stock split of its common stock to satisfy Nasdaq Capital Market’s $1.00 minimum bid requirement. The amendment, effective May 15 at 5:00 p.m. ET, will convert approximately 22.23 million shares into 555,764 shares and trading will commence on May 18 under CUSIP 75946W 504.
2. Impact on Shareholders and Compliance
Following the split, each shareholder’s ownership percentage remains unchanged, with proportional adjustments to outstanding options, warrants and incentive awards. The action secures compliance with Nasdaq Listing Rule 5550(a)(2) ahead of the June 10 deadline and preserves the company’s continued listing status.