B. Riley Financial Announces Notification of Delinquency with Nasdaq

Rhea-AI Summary

B. Riley Financial (NASDAQ: RILY) has received a delinquency notification from Nasdaq on May 21, 2025, for failing to comply with listing rules due to delayed filing of its Q1 2025 Form 10-Q. This follows a previous notification regarding the delayed 2024 annual report (10-K). The company must submit a compliance plan to Nasdaq by June 2, 2025, addressing both delinquent filings.

If Nasdaq accepts the plan, RILY could receive up to 180 calendar days from the initial delinquent filing's due date (until September 29, 2025) to regain compliance. The notification currently has no immediate effect on RILY's Nasdaq listing status.

Positive

• None.

Negative

• Company failed to file Q1 2025 Form 10-Q on time
• Previous failure to file 2024 annual report (Form 10-K)
• Risk of potential Nasdaq delisting if compliance plan is not accepted or executed

LOS ANGELES, May 28, 2025 /PRNewswire/ -- B. Riley Financial, Inc. (Nasdaq: RILY) ("BRF" or the "Company") today announced it received an expected delinquency notification letter from Nasdaq on May 21, 2025, which indicated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the delayed filing of the Company's Quarterly Report on Form 10-Q for the period ended March 31, 2025.

The Nasdaq Listing Rule requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the "SEC"). This notification has no immediate effect on the listing of the Company's securities on Nasdaq.

Nasdaq has informed the Company that it must submit a plan by June 2, 2025, 60 days from the Nasdaq letter received on April 3, 2025, in connection with the delinquency of the Company's filing of its form 10-K for the period ended December 31,2024 (the "Initial Delinquent Filing"), 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.

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 www.brileyfin.com.

Forward-Looking Statements
Statements made in this press release that are not descriptions of historical facts are forward-looking statements that 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. 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 in B. Riley Financial's Quarterly Reports on Form 10-Q for the 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.

Contacts

Investors
ir@brileyfin.com 

Mike Frank 
VP Corporate Development & Investor Relations
mfrank@brileyfin.com

Media
press@briley.com

View original content:https://www.prnewswire.com/news-releases/b-riley-financial-announces-notification-of-delinquency-with-nasdaq-302467619.html

SOURCE B. Riley Financial, Inc.

FAQ

What does the Nasdaq delinquency notice mean for RILY stock?

The delinquency notice means RILY is not compliant with Nasdaq listing rules due to delayed financial filings. While there's no immediate effect on listing status, the company must submit a compliance plan by June 2, 2025, and regain compliance by September 29, 2025, to avoid potential delisting.

What financial reports has B. Riley Financial (RILY) failed to file on time?

B. Riley has failed to file both its 2024 annual report (Form 10-K) and Q1 2025 quarterly report (Form 10-Q) on time.

When is the deadline for B. Riley Financial to submit its compliance plan to Nasdaq?

B. Riley must submit its compliance plan to Nasdaq by June 2, 2025.

How long does B. Riley Financial have to regain compliance with Nasdaq listing rules?

If Nasdaq accepts B. Riley's compliance plan, the company could receive up to 180 calendar days from the initial delinquent filing's due date, or until September 29, 2025, to regain compliance.