Latest news with #B.RileyFinancial
Business Insider
29-05-2025
- Business
- Business Insider
B. Riley Financial receives expected delinquency notification from Nasdaq
B. Riley Financial (RILY) received an expected delinquency notification letter from Nasdaq on May 21 which indicated that the company was not in compliance with Nasdaq Listing Rules as a result of the delayed filing of the company's Quarterly Report on Form 10-Q for the period ended March 31, 2025. This notification has no immediate effect on the listing of the Company's securities on Nasdaq. The company must submit a plan by June 2, 60 days from the Nasdaq letter received on April 3 in connection with the delinquency of the company's filing of its form 10-K for the period ended December 31, 2024, to address how it intends to regain compliance with Nasdaq's listing rules. If accepted, Nasdaq can grant an exception of up to 180 calendar days from the due date of the Initial Delinquent Filing, or until September 29, 2025, to regain compliance. B. Riley expects to submit an updated plan to Nasdaq by the June 2 deadline. Confident Investing Starts Here:
Yahoo
21-05-2025
- Business
- Yahoo
B. Riley Financial Announces Private Bond Exchange to Reduce Debt by Approximately $46 Million
Exchange Eliminates More than $100 Million in 2026 Maturities LOS ANGELES, May 21, 2025 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) ("BRF" or the "Company"), a diversified financial services company, today announced it has entered into a privately negotiated exchange agreement (the "Agreement") with an institutional investor, which will reduce the Company's total outstanding debt by approximately $46 million. Pursuant to the Agreement and subject to the completion of certain closing procedures, the investor has agreed to exchange approximately $139 million in outstanding Senior Notes, consisting of $30 million in March 2026 notes, $75 million in December 2026 notes and $35 million in January 2028 notes, for $93 million in newly issued 8.00% Senior Secured Second Lien Notes due January 1, 2028 (the "Notes"). In addition, the Company is issuing to the investor warrants to purchase an aggregate of approximately 372,000 common shares at an exercise price of $10.00 per share. The warrants are exercisable for a period of seven years from the issuance date. Bryant Riley, Chairman and Co-Chief Executive Officer of BRF, said: "We've made significant progress addressing our capital structure over the past several months as we've negotiated three bond exchanges to reduce our total outstanding debt by approximately $93 million. The exchange announced today represents our largest to date and eliminates more than $100 million in 2026 maturities, representing a significant reduction in near-term debt and an important step forward for B. Riley. We expect to opportunistically utilize the remaining capacity under our Senior Secured Second Lien facility to further improve our balance sheet." Moelis & Company LLC acted as financial advisor and Sullivan & Cromwell LLP acted as legal advisor to BRF with respect to the Agreement. No Offer or Solicitation This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall it constitute an offer to sell, solicitation or sale of securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful. About B. Riley Financial B. Riley Financial (BRF) is a diversified financial services company that delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. BRF leverages cross-platform expertise to provide clients with full service, collaborative solutions at every stage of the business life cycle. Through its subsidiaries and affiliated entities, BRF provides end-to-end financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction, and liquidation services. BRF opportunistically invests to benefit its shareholders, and certain affiliates originate and underwrite senior secured loans for asset-rich companies. BRF refers to B. Riley Financial, Inc. and/or one or more of its subsidiaries or affiliates. For more information, please visit Forward-Looking Statements Statements made in this press release that are not descriptions of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition, and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of today's date. All statements other than statements of historical fact are forward-looking statements and include the completion of the closing procedures related to the exchange. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's performance or achievements to be materially different from any expected future results, performance, or achievements. Forward-looking statements speak only as of the date they are made and the Company assumes no duty to update forward-looking statements, except as required by law. Actual future results, performance or achievements may differ materially from historical results or those anticipated depending on a variety of factors, some of which are beyond the control of the Company, including, but not limited to, the risks described from time to time in the Company's periodic filings with the SEC, including, without limitation, the risks described in the Company's 2023 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024 under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" (as applicable). These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. All information is current as of the date this press release is issued, and the Company undertakes no duty to update this information. ContactsInvestorsir@ Mike FrankVP Corporate Development & Investor Relationsmfrank@ Mediapress@ View original content: SOURCE B. Riley Financial
Bloomberg
13-05-2025
- Business
- Bloomberg
B. Riley Overshoots Another Deadline for Filing Results with SEC
B. Riley Financial Inc. added to its tally of overdue regulatory filings, this time missing the deadline for quarterly results as soured investments mounted. The report is delayed because B. Riley is still working on finishing its delinquent full-year report for 2024, the Los Angeles-based financial services firm told the US Securities and Exchange Commission on Tuesday.
Reuters
04-04-2025
- Business
- Reuters
B. Riley receives Nasdaq notice over annual report delay
April 4 (Reuters) - B. Riley Financial (RILY.O), opens new tab said on Friday it had received a delinquency notification letter from the Nasdaq following a delay in the filing of its annual report. While the notice has no immediate effect on B. Riley's listing, the Nasdaq has informed the company that it must submit a plan by June 2 to address how it intends to regain compliance with listing rules. The company's annual report was due on March 17. Reuters reported in March that B. Riley co-CEO Bryant Riley has dropped plans to take the investment bank private.
Yahoo
04-04-2025
- Business
- Yahoo
B. Riley receives Nasdaq notice over annual report delay
(Reuters) - B. Riley Financial said on Friday it had received a delinquency notification letter from the Nasdaq following a delay in the filing of its annual report. While the notice has no immediate effect on B. Riley's listing, the Nasdaq has informed the company that it must submit a plan by June 2 to address how it intends to regain compliance with listing rules. The company's annual report was due on March 17. Reuters reported in March that B. Riley co-CEO Bryant Riley has dropped plans to take the investment bank private.
