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

B. Riley Securities, a subsidiary of B. Riley Financial (NASDAQ: RILY), will host a Crypto Conference on December 8, 2021, in New York, NY. This invitation-only event is designed for institutional investors to explore insights into the evolving crypto economy.

CEO Andy Moore highlighted that the conference will feature keynotes and panels, including discussions led by industry experts. Attendees can engage in meetings and fireside chats with a range of public digital asset companies, providing a unique opportunity for knowledge sharing.

B. Riley Financial reported strong Q3 2021 results with a net income of $48.6 million, up 3% year-over-year. Total revenues surged to $381.5 million, marking a 69% increase. The company declared a $4.00 quarterly dividend, including a $3.00 special dividend, reflecting confidence in cash flows. Operating revenue rose 87% to $363.3 million, with operating adjusted EBITDA increasing by 50% to $101.1 million. B. Riley also made progress in reducing debt expenses and expanding its investment banking and wealth management divisions.

B. Riley Securities has concluded its cash tender offer for up to 2,000,000 American Depositary Shares (ADS) of DoubleDown Interactive (Nasdaq: DDI) at $18.00 per ADS. The offer expired on October 22, 2021, and was oversubscribed, with 3,228,289 DDI ADS tendered. B. Riley will purchase the ADS on a pro rata basis, with a preliminary proration factor of approximately 61.95%. This tender offer was structured per the Offer to Purchase dated September 23, 2021.

B. Riley Financial (NASDAQ: RILY) has announced an investor call scheduled for October 28, 2021, to discuss its third-quarter results. The call will take place at 4:30 p.m. Eastern and will be hosted by Co-CEOs Bryant Riley and Tom Kelleher, along with Phillip Ahn, CFO and COO, including a Q&A session.

An earnings release will be issued shortly after market close before the call. Investors can access the live broadcast and replay via the company's investor relations website.

B. Riley Financial (NASDAQ: RILY) has expanded its Corporate Advisory and Valuation Services with the addition of Dave Bookbinder and Quinn Shearer. Both professionals bring extensive expertise in business and intangible asset valuation. This move aims to address the increasing demand for independent valuation services, critical for maximizing client value in a complex business environment. Bookbinder joins as Managing Director, focusing on corporate finance and intellectual property valuation, while Shearer, as Director, specializes in the valuation of privately held businesses and complex capital structures.

B. Riley Financial has declared cash dividends on its Preferred Stock series, specifically the 6.875% Series A and 7.375% Series B. Shareholders will receive $0.42968750 per depositary share for Series A and $0.4609375 for Series B. These dividends are payable on November 1, 2021, to holders of record as of October 21, 2021. The Preferred Stocks have a liquidation preference of $25.00 per depositary share, allowing for a consistent income stream for investors.

B. Riley Financial (NASDAQ: RILY) announced growth in its restructuring division with the addition of three senior executives: John Sordillo, Jeffrey Truitt, and Tim Hannon. Each brings over 30 years of experience in financial management and restructuring advisory. Sordillo specializes in corporate finance and litigation across various industries, Truitt leads restructuring efforts in Los Angeles, and Hannon has experience in CFO roles for mid-sized companies. This team is expected to enhance B. Riley's advisory capabilities as demand for their services continues to grow.

B. Riley Financial (Nasdaq: RILY) has initiated a cash tender offer to purchase up to 2,000,000 American Depositary Shares (ADS) of DoubleDown Interactive (Nasdaq: DDI) at $18.00 per ADS. This offer is aimed at increasing B. Riley's investment in DDI, believing the current market value does not reflect its intrinsic value. The offer is set to expire on October 22, 2021, and is subject to customary closing conditions, though there is no financing condition involved. Detailed terms and conditions are available in the Offer to Purchase filed with the SEC.

B. Riley Financial (NASDAQ: RILY) announced the full redemption of its 6.875% Senior Notes due 2023, totaling $115,726,350, effective October 22, 2021. The redemption price will equal 100% of the principal plus a $0.25 premium and accrued interest. After the Redemption Date, interest will cease, and the Notes will be delisted from NASDAQ. Investors holding the Notes should consult their brokers for redemption details. This announcement is informational and does not constitute an offer to purchase or sell securities.