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

B. Riley Securities has been named the SPAC Investment Bank of the Year at the 2021 M&A Atlas Awards. This prestigious recognition highlights the firm's excellence in executing value-creating SPAC transactions and solidifies its leadership in the investment banking sector. Jonathan Mitchell, Senior Managing Director, emphasized the award as a validation of their strong track record. The award winners are chosen based on a comprehensive scoring method that evaluates various deal criteria, reflecting the firm's commitment to long-term client partnerships.

B. Riley Principal 250 Merger Corp., a special purpose acquisition company, has priced its initial public offering (IPO) of 15,000,000 units at $10.00 each, raising $150 million. The units, which comprise one share of Class A common stock and one-third of a redeemable warrant, will begin trading on Nasdaq under the ticker symbol 'BRIVU' on May 7, 2021. The company aims to merge with businesses that demonstrate potential for strong cash flow and revenue growth. B. Riley Securities, Inc. is the sole book-running manager for the offering.

B. Riley Financial (NASDAQ: RILY) reported strong financial results for Q1 2021, including a net income of $252.9 million or $8.81 per diluted share. Total revenues reached $600.2 million, with operating revenues at $333.2 million, marking an 83% year-over-year increase. The company achieved significant investment gains of $266.9 million and completed the acquisition of National Holdings, enhancing its wealth management services. A quarterly dividend of $3.00 per share was declared, reflecting strong capital returns to shareholders.

B. Riley Wealth Management, a subsidiary of B. Riley Financial (NASDAQ: RILY), has announced the hiring of Eve Glatt and Maurice Onyuka as Senior Portfolio Managers. Previously Co-Heads of U.S. Equities at UBP Asset Management, they will continue to manage the UBAM - US Equity Growth sub-fund with assets over $215 million. CEO Chuck Hastings emphasized the strategic partnership with UBP, marking a continued expansion for B. Riley. Glatt and Onyuka bring over 45 years of combined investment management experience to their new roles.

B. Riley Financial (NASDAQ: RILY) will hold a conference call on May 3, 2021 at 4:30 p.m. ET to discuss its Q1 2021 financial results. Results will be released shortly after market close before the call. The conference will feature Co-CEOs Bryant Riley and Tom Kelleher, along with CFO Phillip Ahn. Investors can access the live broadcast and archived recordings on B. Riley's investor relations website.

B. Riley Financial (RILY) will join the S&P SmallCap 600 index effective April 15, 2021. This comes as The Michaels Companies (MIK) is set to be acquired by Apollo Global Management, leading to its removal from the index. The changes will take effect prior to the market opening on the specified date. This realignment reflects ongoing adjustments in the marketplace and could present new investment opportunities for shareholders of B. Riley Financial.

B. Riley Financial (NASDAQ: RILY) announced cash dividends for its preferred stocks, with the 6.875% Series A paying $0.42968750 and the 7.375% Series B paying $0.4609375 per depositary share. The dividends will be payable on April 30, 2021, to holders of record as of April 20, 2021. Each depositary share has a liquidation preference of $25.00. These dividends reflect the company's ongoing financial commitment to its shareholders.

B. Riley Principal 150 Merger Corp. (Nasdaq: BRPMU) announced that starting April 9, 2021, holders of its Units can separately trade shares of its Class A common stock (symbol: BMPM) and Warrants (symbol: BRPMW). The Units that are not separated will continue trading under the symbol BRPMU. The announcement aims to improve liquidity for investors. The offering was previously made only through a prospectus from B. Riley Securities, indicating compliance with securities regulations.

B. Riley Financial announced the closing of an underwritten public offering of 5.50% senior notes due 2026 totaling approximately $159.5 million, which includes $9.5 million from additional notes exercised by underwriters. The net proceeds are estimated at $154.5 million, primarily to redeem existing 7.25% Senior Notes due 2027 and for general corporate purposes, including acquisitions and working capital. The notes will trade under the symbol RILYK.