Reliance Global Group Signs LOI to Sell Altruis Benefit Consulting for $11 Million in Cash
Reliance Global Group has signed a letter of intent to sell its Altruis Benefit Consulting subsidiary for $11 million in cash. The transaction is expected to generate approximately $7.6 million in incremental cash after repaying all of the company's term debt.
Why it matters — The sale would provide a significant cash injection and eliminate all of Reliance Global Group's term debt, strengthening the company's balance sheet.