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.
FaZe Clan announces two innovative livestream series targeting Gen Z, unFaZed and FaZe1: The Warehouse. The first series premieres on June 2, featuring rotating internet celebrities and live segments every Thursday. Concurrently, FaZe1 launches on May 5, a 15-day reality competition offering a chance to win $1 million in cryptocurrency. Both shows will be filmed at FaZe Clan's new studio in Hollywood, reinforcing their commitment to engaging and entertaining the youth audience.
FaZe Clan announced that entertainment icon Snoop Dogg will join its talent network and board of directors following its merger with B. Riley Principal 150 Merger Corp. (BRPM). Snoop Dogg, known for his influence in music and gaming, will co-create content and launch merchandise as "FaZe Snoop." This partnership aims to foster engagement across social platforms, tapping into Snoop's extensive fanbase. The merger is anticipated to close in Spring 2022, with Snoop's role expected to enhance FaZe Clan's strategic direction as a public company.
B. Riley Securities, a subsidiary of B. Riley Financial (NASDAQ: RILY), appointed Robert Hamill as Senior Managing Director of Fixed Income. Hamill joins Tim Sullivan, who began his role on February 1, to enhance the national growth of the fixed income division. With over 35 years of financial services experience, including positions at Drexel Burnham Lambert and JP Morgan, Hamill aims to improve client relationships and expand the department. B. Riley offers various fixed income solutions, leveraging a network of over 1,000 institutional investors.
B. Riley Securities announced its 22nd Annual Institutional Investor Conference scheduled for May 25-26, 2022, at The Beverly Hilton in Beverly Hills, California. The event will connect over 1,000 attendees with executives from more than 200 companies, featuring presentations, fireside chats, and panel discussions. CEO Andy Moore highlighted the firm's growth despite pandemic challenges, increasing its equity market activities significantly. The conference will also include the Annual Big Fighters, Big Cause Charity Boxing Night, supporting the Sugar Ray Leonard Foundation.
B. Riley Financial (RILY) reported robust fourth quarter and full year 2021 results, highlighting a net income of $62.2 million ($2.08 diluted EPS) for Q4 and $437.6 million ($15.09 diluted EPS) for the year. Total revenues surged 3% in Q4 to $422.1 million and 93% for the year to $1.7 billion. Wealth management revenues soared to $382 million, driven by the acquisition of National Holdings. The company declared a $1.00 quarterly dividend, totaling $10.00 for FY 2021, and approved a $50 million share repurchase program, reflecting strong cash flow and a solid balance sheet.
B. Riley Financial (NASDAQ: RILY) has announced an investor call to discuss its fourth quarter and full year 2021 results on February 23, 2022, at 4:30 p.m. Eastern. The earnings release will be issued shortly after market close on the same day. Co-CEOs Bryant Riley and Tom Kelleher, along with CFO Phillip Ahn, will lead the call, which includes a Q&A session. Investors can access the live broadcast and a recording via the provided IR website link.
B. Riley Financial (NASDAQ: RILY) announced the acquisition of FocalPoint Securities for up to $175 million. This strategic move is expected to significantly enhance B. Riley's M&A advisory capabilities, projecting to quadruple its pro forma business in this sector. FocalPoint has successfully closed $17 billion in transactions over 20 years, specializing in various high-growth sectors. The acquisition aligns with B. Riley's goals to expand its market presence and offer a comprehensive suite of financial services to clients.
B. Riley Financial (NASDAQ: RILY) announced the expansion of its Forensic Accounting & Litigation Support practice by adding four senior professionals: Wayne Wilson, Mike De Laval, Paul Brooks, and Meredith Alfred. This team, based in Houston, Texas, brings over 80 years of combined experience in energy litigation support and international arbitration. Their expertise encompasses commodities trading and financial consulting, enhancing B. Riley's capabilities in handling high-profile disputes with major law firms.
B. Riley Financial has declared cash dividends for its preferred stock series. The 6.875% Series A Cumulative Perpetual Preferred Stock (RILYP) will pay $0.42968750 per depositary share, while the 7.375% Series B Cumulative Perpetual Preferred Stock (RILYL) will pay $0.4609375 per depositary share. Both dividends are payable on January 31, 2022, to holders of record as of January 21, 2022. This reflects the company's ongoing commitment to providing returns to its investors.
B. Riley Principal 150 Merger Corp. (NASDAQ: BRPMU, BRPM, BRPMW) has filed a registration statement with the SEC for a proposed business combination with FaZe Clan Inc., a digital content platform. This merger is expected to close in early Q2 2022, pending shareholder approval and regulatory conditions. Post-combination, BRPM will rebrand as 'FaZe Holdings Inc.' and its common stock will trade under the new ticker symbol 'FAZE'. The merger includes a $118 million private placement led by B. Riley Securities.