Welcome to our dedicated page for BRC Group Holdings news (Ticker: RILY), a resource for investors and traders seeking the latest updates and insights on BRC Group Holdings stock.
BRC Group Holdings, Inc. reports developments for a diversified holding company with financial services, communications, retail, and investment activities. Its financial services platform serves small-cap and middle-market companies through capital markets, sales and trading, research, merchant banking, M&A, restructuring, and wealth management services.
Recurring company news includes earnings releases and calls, segment performance across capital markets and operating businesses, capital-structure actions involving debt and preferred securities, governance and shareholder-voting matters, and platform updates such as BRC Specialty Finance. Communications operations include traditional, mobile and cloud phone, internet, data, security, and email services, while retail activities include mobile computing accessories and home furnishings.
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B. Riley Financial has announced cash dividends for its Preferred Stock series, specifically the 6.875% Series A and the 7.375% Series B. Each depositary share, representing 1/1000th of a share, has a liquidation preference of $25.00. The dividend for Series A is set at $0.42968750 per depositary share, while Series B is $0.4609375. These dividends are scheduled for payment on or around April 30, 2023, to holders of record as of April 21, 2023.
This announcement reaffirms B. Riley's commitment to providing returns to its shareholders, reflecting its financial stability and operational performance.
B. Riley Financial, Inc. (NASDAQ: RILY) announced it led financing for Harrow Health, Inc. (NASDAQ: HROW) to support its acquisition of exclusive commercial rights to five FDA-approved ophthalmic products. The financing included $59.75 million in debt provided in January 2023 and a fully backstopped $125 million commitment. The loan was fully repaid on March 27, 2023, coinciding with Harrow's new $100 million credit facility. B. Riley also managed Harrow's equity and senior notes offerings in December 2022, raising $65.25 million. Harrow aims to enhance its position in the U.S. ophthalmic pharmaceuticals market through this acquisition.
A joint venture including Hilco Merchant Retail Solutions, Gordon Brothers Canada, Tiger Asset Solutions, and B. Riley Retail has begun liquidation sales for all Nordstrom and Nordstrom Rack stores in Canada. This follows a court order from March 20, 2023, permitting the closure of 13 locations. Sales began on March 21, offering discounts of up to 20% on various products, with all sales final and no returns accepted. The impacted stores are located in major Canadian cities, including Calgary, Vancouver, Ottawa, and Toronto. The company aims for brisk sales during this unique liquidation event, providing an opportunity for consumers to purchase luxury items at discounted prices.