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. (Nasdaq: RILY), formerly B. Riley Financial, Inc., regularly issues news and updates that reflect its role as a diversified holding company with financial services, telecom, retail, and investment activities. Its press releases cover developments across segments such as Capital Markets, Wealth Management, Communications, and Consumer Products, as well as group-level corporate actions.
News about BRC often highlights quarterly and annual financial results, including net income, revenues, segment performance, and non-GAAP measures such as Adjusted EBITDA, Operating Adjusted EBITDA, Investment Adjusted EBITDA, Operating Revenues, Investment Gains (Losses), Total Investments, and Net Debt. These updates may include commentary from management on segment trends, debt reduction, bond exchanges, and balance sheet initiatives.
Investors following RILY news can also expect announcements related to capital markets and investment banking activity at B. Riley Securities, such as equity and debt capital raises, carve-out transactions, and business updates on its investment banking, institutional brokerage, and research operations. Additional releases discuss wealth management developments at B. Riley Wealth, as well as performance of the Communications and Consumer Products segments.
Another recurring theme in BRC’s news flow is regulatory and listing matters, including communications about SEC filing timelines, Nasdaq notifications, and steps taken to regain or maintain timely reporting compliance. Corporate governance items, such as the appointment of auditors, proxy statements for the annual meeting, and executive compensation arrangements, also appear in company filings and related announcements.
For readers tracking RILY, this news page aggregates these company-issued updates, providing a single place to review recent earnings releases, segment highlights, capital structure developments, and key regulatory disclosures as reported by BRC Group Holdings, Inc.
B. Riley Financial (NASDAQ: RILY) announced the acquisition of a performing credit receivables portfolio from W.S. Badcock Corporation, valued at approximately $400 million. The portfolio includes receivables totaling $535 million as of December 15, 2021. This purchase is expected to enhance EBITDA and provide additional cash flow throughout its lifecycle. B. Riley Financial has established a new receivables business aimed at debt monetization solutions, leveraging its strong asset base of over $5 billion as of September 30, 2021.
B. Riley Financial (NASDAQ: RILY) announced the sale of approximately $22.7 million in additional aggregate principal amount of its 5.00% Senior Notes due 2026, following the partial exercise of underwriters' options related to a prior public offering of $300 million in Notes. Total net proceeds from the offering reached $312.5 million. The proceeds will be utilized for general corporate purposes, including funding acquisitions, refinancing existing debt, and working capital needs. Trading of the Notes commenced on December 6, 2021 under the ticker symbol RILYG.
B. Riley Financial (NASDAQ: RILY) announced the successful closure of a $300 million public offering of 5.00% Senior Notes due 2026. The offering generated net proceeds of approximately $290.5 million after discounts. The Notes are rated BBB+ by Egan-Jones and will trade on the Nasdaq Global Market under the symbol RILYG. Proceeds will be used for general corporate purposes, including acquisitions, debt repayment, and working capital. Underwriters have an option for an additional $45 million.
B. Riley Financial has priced an underwritten public offering of $300 million in 5.00% Senior Notes due 2026. The offering is expected to close on December 3, 2021, with an option for underwriters to purchase an additional $45 million in Notes. The Notes received a BBB+ rating, with plans to list on the Nasdaq under RILYG. Proceeds will fund acquisitions, refinance debt, and support operational needs. The issuance is part of B. Riley's broader strategy for growth and client support.
B. Riley Financial (NASDAQ: RILY) announced a public offering of $150 million in Senior Notes due 2026, subject to market conditions. The offering includes a 30-day option for underwriters to purchase additional notes. The notes received a BBB+ rating from Egan-Jones Ratings Company. Proceeds will be used for general corporate purposes like funding acquisitions, refinancing debt, and working capital. The Notes are expected to be listed on the Nasdaq Global Market under the symbol 'RILYG.'
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.
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