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

B. Riley Financial (NASDAQ: RILY) announced the successful closure of its underwritten public offering of 5.25% senior notes due 2028, totaling approximately $316.25 million. This includes $41.25 million from the underwriters' option to purchase additional notes. The investment-grade rated notes are set to begin trading on NASDAQ under the symbol RILYZ. Net proceeds of around $306 million will support general corporate purposes such as acquisitions, debt repayment, capital expenditures, and working capital.

B. Riley Financial (NASDAQ: RILY) announced the redemption of all issued 7.375% Senior Notes due 2023, totaling $137,453,925, effective September 4, 2021. The redemption price includes 100% of the principal, a premium of $0.375, and accrued interest until the redemption date. Holders will receive the payment on September 7, 2021, after which the notes will cease trading on NASDAQ under the symbol RILYH. This press release serves as a notification for investors regarding the redemption process.

B. Riley Financial has announced the acquisition of the investment advisory business of 272 Capital L.P. on August 4, 2021. This strategic move aims to expand B. Riley's asset management capabilities, focusing on small cap equity securities. Wes Cummins, the leader of 272 Capital, will join B. Riley as President of Asset Management, overseeing the investment strategy for the BRC Partners Opportunity Fund. The acquisition aligns with B. Riley's commitment to enhancing its investment offerings for institutional and high-net-worth clients. Together, they manage over $270 million in assets.

B. Riley Financial has announced a priced underwritten public offering of $275 million in 5.25% senior notes due 2028. The offering is set to close on August 6, 2021, subject to closing conditions, with a potential additional $41.25 million option for underwriters. These notes have received a BBB+ investment grade rating from Egan-Jones Ratings. Proceeds will support general corporate purposes including acquisitions, debt repayment, and working capital.

B. Riley Financial (NASDAQ: RILY) has announced an underwritten public offering of $150 million in senior notes due 2028, subject to market conditions. The company received a BBB+ investment grade rating from Egan-Jones Ratings Company. Proceeds will be used for general corporate purposes, including acquisitions, debt repayment, capital expenditures, and working capital. The offering is conducted under a previous shelf registration effective since January 28, 2021. Additional details will be available in a prospectus filed with the SEC.

B. Riley Financial (RILY) reported a net income of $73.9 million for Q2 2021, down 11% year-over-year, with total revenues of $336.8 million, up 26% year-over-year. Adjusted EBITDA stood at $124.9 million. The investment banking division led this growth, while the Wealth Management segment surged 362% year-over-year to $158.2 million in revenues. The company declared a $2.00 dividend per share, effective August 26, 2021. B. Riley aims to capitalize on market opportunities while enhancing recurring revenues.

B. Riley Securities will host a small-cap investor conference at the Proper Hotel in Santa Monica, California, on August 18-19, 2021. This event aims to connect institutional investors with senior management teams of selected companies, showcasing B. Riley's award-winning equity research. CEO Andy Moore emphasized the importance of live corporate access in a personal setting for effective networking. Featured companies include B. Riley Financial (RILY), AMC Entertainment, and Plug Power, among others. Participation is by invitation only for the firm's clients.

B. Riley Wealth Management has opened a new branch in Warrenton, Virginia, expanding its services in the Mid-Atlantic region. The branch offers a full suite of investment management and brokerage services, supported by a team of experienced financial advisors. This team previously managed over $335 million in client assets at BB&T Securities/Truist. The new branch enhances B. Riley's commitment to its client relationships and reflects the company's growth strategy in providing customized wealth management solutions.

B. Riley Financial (NASDAQ: RILY) announced a conference call scheduled for July 29, 2021, at 4:30 p.m. ET to discuss its Q2 2021 financial results. The financial results will be released shortly after market close on the same day. Co-CEOs Bryant Riley and Tom Kelleher, along with CFO Phillip Ahn, will host the call, including a question and answer segment. Investors can access the live broadcast and archived recording via the company’s investor relations website.