Reliance Global Group Enters Into Non-Binding LOI To Sell Assets Of Its Altruis Benefit Consulting Subsidiary For $11M In Cash
Transaction Expected to Generate Approximately $7.6 Million of Aggregate Incremental Cash After Retiring 100% of the Company's Term DebtAll-Cash, Non-Dilutive Transaction Would Support Continued Investment in the
Reliance Global is selling one of its business parts for $11 million in cash, which will help pay off all its debt and leave about $7.6 million extra. When a company sells parts of itself to pay down debt, it usually means they're getting their finances stronger and simpler.
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