Reliance Global Group Completes Sale of Altruis Benefit Consulting for $8 Million in Cash Plus Up to $1 Million Earnout
Approximately $7.5 million in cash has been received without issuing common shares, while additional earnout payments depend on revenue growth.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Reliance Global Group (EZRA) completed the sale of substantially all Altruis Benefit Consulting assets for $8 million on September 23, 2026.
The company has received approximately $7.5 million in cash, including full payment of the buyer's $3.1 million secured promissory note on September 30. The buyer holds $461,729 as indemnity and working capital holdbacks. Reliance may earn up to $1 million over the three years following closing, based on annual revenue growth of the acquired business.
The sale involved no issuance of Reliance common stock and follows the September 11 sale of Southwestern Montana Insurance Center. Reliance plans to redeploy capital into its proprietary AI platform, RELI Exchange and other growth initiatives while continuing to evaluate its agency portfolio.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major pointAltruis asset sale delivered approximately $7.5 million in cash without issuing Reliance common stock. 4× market cap
- Minor point. Forward-looking: it has not happened yet and may not happen.Additional earnout offers up to $1 million over three years following closing, subject to annual revenue growth.
- Minor pointSouthwestern Montana Insurance Center sale closed September 11, 2026, preceding the completed Altruis sale.
- Minor point. Forward-looking: it has not happened yet and may not happen.Capital redeployment is planned for the proprietary AI platform, RELI Exchange and other growth initiatives.
Negative
- Minor pointBuyer retains $461,729 in indemnity and working capital holdbacks.
Details
Market Reaction – EZRA
On Oct 1, the day this news came out, the latest delayed price for EZRA is 2.06% below the previous close. Argus tracked a peak move of +18.3% during the session. Our momentum scanner has recorded 19 alerts for this stock so far that day. The latest delayed price is $2.23. Relative volume is exceptionally heavy at 1866.3x the average.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
- Cash purchase price
- $8 million
- Sale of substantially all Altruis assets
- Maximum earnout
- Up to $1 million
- Potential payments over three years, based on annual revenue growth
- Secured promissory note
- $3.1 million
- Buyer note paid in full on September 30, 2026
- Buyer holdback
- $461,729
- Held for customary indemnity and working capital holdbacks
Historical Context
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Non-binding LOI proposed an $11 million cash sale, with closing targeted within 60 days.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
earnout financial
secured promissory note financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Second Non-Core Agency Sale Completed in September Under the Company's Portfolio Monetization Strategy
LAKEWOOD, NJ, Oct. 01, 2026 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: EZRA) ("Reliance," "EZRA" or the "Company"), an InsurTech company leveraging artificial intelligence, cloud computing and advanced technologies to transform the insurance agency/brokerage industry, today announced that it has completed the sale of substantially all of the assets of its Altruis Benefit Consulting ("Altruis") subsidiary, a Michigan-based health insurance agency and benefits consulting business, for a cash purchase price of
Key Terms
- Cash purchase price plus earnout. Of the
$8 million cash purchase price, the Company has received approximately$7.5 million in cash, including payment in full of the buyer's$3.1 million seller note, with the balance of$461,729 held by the buyer as customary indemnity and working capital holdbacks. In addition, the Company may earn up to$1 million in earnout payments over the three years following the closing, based on annual revenue growth of the acquired business. - Continued execution of the strategy. The Altruis sale follows the Company's sale of Southwestern Montana Insurance Center, which closed on September 11, 2026, and represents continued execution of the portfolio monetization strategy of non-core agencies.
- Transaction completed. The sale of Altruis closed on September 23, 2026.
Strategic Rationale
Reliance is engaged in the ongoing evaluation and selective monetization of non-core insurance agency assets to unlock value while accelerating its evolution into a technology-driven InsurTech company. By selectively monetizing established insurance operations, the Company is strengthening its balance sheet, improving its financial flexibility and redeploying capital into its proprietary AI platform, RELI Exchange and other strategic growth initiatives that management believes offer greater long-term growth opportunities. The Altruis sale provides the Company with an
"Completing the Altruis sale, following the Southwestern Montana transaction earlier this month, reflects the steady execution of our portfolio monetization strategy," said Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group. "With the buyer's seller note now paid in full, the proceeds strengthen our balance sheet and give us more capacity to invest in our AI platform and the RELI Exchange network."
"We will continue to evaluate opportunities across our agency portfolio," Mr. Beyman continued. "Our focus is on allocating capital to the areas we believe offer the greatest long-term value for our shareholders."
About Reliance Global Group, Inc.
Reliance Global Group, Inc. (Nasdaq: EZRA) is an InsurTech company leveraging artificial intelligence, cloud computing and advanced technologies to transform the insurance agency/brokerage industry. Through its growing portfolio of proprietary AI solutions and insurance operations, the Company is focused on enhancing operational efficiency, improving customer experiences and creating long-term shareholder value. Further information about the Company can be found at https://www.relianceglobalgroup.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than statements of historical fact and may be identified by the use of words or expressions such as "may," "should," "could," "would," "will," "expect," "anticipate," "intend," "plan," "believe," "estimate," "continue," "target," "project," "potential," or similar expressions, or by discussions of strategy, plans or intentions. Forward-looking statements in this press release include, without limitation, statements regarding: the amount, timing and payment of the earnout consideration, if any; the release of the indemnity and working capital holdbacks; any post-closing purchase price or working capital adjustments; the anticipated benefits of the completed sale of Altruis; the Company's use of proceeds and the anticipated effects of the transaction on the Company's cash position, capital structure and financial flexibility; the Company's portfolio monetization strategy, including the monetization of mature insurance distribution assets and the redeployment of capital; and the continued development, deployment and potential commercialization of the Company's proprietary artificial intelligence platform and its RELI Exchange InsurTech platform.
These statements are based on management's current expectations and assumptions and are subject to risks, uncertainties and other factors, many of which are beyond the Company's control. Should one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by these forward-looking statements.
Such risks and uncertainties include, without limitation: the risk that the earnout consideration is not earned or paid, in whole or in part; the risk of post-closing purchase price or working capital adjustments or indemnification claims, including against the holdback amounts; the loss of the revenue and operating cash flow historically contributed by Altruis and the resulting impact on the Company's consolidated results of operations; the risk that net proceeds available to the Company are less than anticipated after transaction expenses and income taxes, including any limitation on the Company's ability to utilize net operating loss carryforwards; the risk that the Company is unable to redeploy capital into initiatives that generate the anticipated returns; the Company's ability to maintain compliance with the continued listing standards of The Nasdaq Capital Market; the Company's ability to access additional capital on acceptable terms, or at all; the development, deployment, market acceptance and potential commercialization of the Company's proprietary artificial intelligence technologies; competition, regulatory developments and other risks affecting the insurance brokerage and InsurTech industries; and general business, economic, market and geopolitical conditions. Additional information regarding these and other factors that may cause actual results to differ materially is included under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, as amended, and in the Company's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission, copies of which are available free of charge at www.sec.gov.
Readers are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements in this press release speak only as of the date of this press release. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: EZRA@crescendo-ir.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were the terms of Reliance Global Group's Altruis sale?
Reliance sold substantially all Altruis assets for an $8 million cash purchase price, plus an earnout of up to $1 million over the three years following closing. The transaction closed September 23, 2026. Earnout payments depend on annual revenue growth of the acquired business.
Has Reliance Global Group received the cash from the Altruis sale?
Reliance has received approximately $7.5 million in cash, including full payment of the buyer's $3.1 million secured promissory note on September 30, 2026. The buyer retains $461,729 as indemnity and working capital holdbacks.