B. Riley Financial, Inc. Stock Price, News & Analysis

B. Riley Financial, Inc. (NASDAQ: RILY) has announced cash dividends for its 6.875% Series A and 7.375% Series B Cumulative Perpetual Preferred Stock. The Series A dividend is set at $0.42968750 per share, while the Series B dividend is $0.4609375 per share. These dividends are scheduled for payment on or about July 29, 2022, to shareholders on record as of July 19, 2022. This financial move indicates the company's commitment to returning value to its preferred stockholders.

B. Riley Financial announced the appointment of Timothy J. Shilling as Executive Vice President of B. Riley Retail Solutions. Shilling brings over two decades of experience in leading retail liquidations and advising prominent retailers. He will support the firm's strategy amidst challenges like rising interest rates and supply chain issues affecting the retail sector. Notably, he has overseen retail inventory assignments valued over $10 billion. Shilling aims to leverage B. Riley's diverse platform to assist clients in navigating the evolving retail landscape.

B. Riley Principal 150 Merger Corp. (BRPM) has announced the effectiveness of its Form S-4 registration statement by the SEC for its proposed business combination with FaZe Clan Inc. The merger aims to solidify FaZe Clan's position in the esports and creator economy. A Special Meeting for BRPM stockholders will be held on July 15, 2022, for voting on the merger. Upon completion, the company will rebrand as FaZe Holdings Inc. and trade on NASDAQ under the ticker 'FAZE.'

B. Riley Principal 150 Merger Corp. (NASDAQ: BRPM) announced the record date of May 26, 2022, for a special meeting of stockholders to vote on its proposed merger with FaZe Clan, a prominent esports and gaming lifestyle company. The business combination is anticipated to finalize by July 2022, pending stockholder and regulatory approvals. Following the merger, BRPM will be renamed FaZe Holdings Inc., with new ticker symbols 'FAZE' and 'FAZEW' for its shares and warrants, respectively. A proxy statement/prospectus will be provided to stockholders once effective.

FaZe Clan has appointed Zach Katz as its new President and Chief Operating Officer, effective immediately. Katz brings over 20 years of experience in the music and talent industries, aiming to enhance FaZe's operational efficiency and global brand expansion. He will report directly to CEO Lee Trink and work on increasing revenue through innovative verticals. This leadership change occurs as FaZe prepares for its merger with B. Riley Principal 150 Merger Corp. (NASDAQ: BRPM), with the transaction expected to close by July 2022.

B. Riley Financial (NASDAQ: RILY) reported a net loss of $12.1 million or ($0.43) diluted EPS for Q1 2022, a significant decline from a net income of $252.9 million a year prior. Total revenues dropped 66% to $205.6 million, with operating revenues decreasing by 18% to $274 million. The company declared a quarterly dividend of $1.00 per common share, payable on May 20. Despite challenges in the underwriting business, the firm anticipates growth from M&A activities and diversification into Telecom acquisitions, enhancing its revenue mix and cash flow.

B. Riley Securities, a subsidiary of B. Riley Financial (NASDAQ: RILY), has appointed Ji Pak and Mary Jo Collins as Managing Directors in its fixed income division. Ji Pak, who has nearly 15 years of experience in Hybrid/Preferred trading, aims to enhance B. Riley's capabilities in this space. Mary Jo Collins brings a strong background in fixed income trading and product sales. The firm is strategically expanding its offerings in the financial services industry, reinforcing its presence in the fixed income market with veteran leadership and a focus on client service.