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Reliance Global signs LOI to sell Altruis Benefit Consulting for $11 million cash

PUBT·08/05/2026 22:53:34
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Reliance Global signs LOI to sell Altruis Benefit Consulting for $11 million cash
  • Reliance Global Group signed a non-binding LOI to sell Altruis Benefit Consulting’s operating assets for USD 11 million in cash.
  • Consideration includes about USD 9.35 million at closing, with USD 1.65 million placed in escrow for 18 months.
  • Proceeds would retire the Oak Street Funding term loan of about USD 4.4 million, eliminating roughly USD 1 million in annual interest expense.
  • The deal is expected to deliver about USD 7.6 million of aggregate incremental cash, including about USD 5 million net at closing and USD 1 million released collateral.
  • Closing is targeted within 60 days; Reliance would retain its AI platform, RELI Exchange, and other insurance operations.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Reliance Global Group Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-26-036223), on August 05, 2026, and is solely responsible for the information contained therein.