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

B. Riley Financial (NASDAQ: RILY) announced an underwritten public offering of $125 million in senior notes due 2026. The offering is subject to market conditions and includes a potential 30-day option for underwriters to purchase additional notes. Both the company and these notes received an investment grade rating of BBB+ from Egan-Jones Ratings. Proceeds exceeding $100 million will be used to redeem existing senior notes and for general corporate purposes, including acquisitions and debt repayment.

B. Riley Financial (NASDAQ: RILY) announced preliminary estimates for its operating adjusted EBITDA for Q1 2021, projecting it to be between $105 million and $115 million, a nearly 50% increase from $70.9 million in Q1 2020. The strong performance is attributed to growth in capital markets and advisory services, bolstered by the acquisition of National Holdings. The company warns that actual results may vary due to market conditions affecting its investment portfolio. Investors should be cautious as the forecast is speculative and contingent upon various factors.

B. Riley Financial (NASDAQ: RILY) announced the appointment of Martin Bernstein as Head of Private Investments. Bernstein will oversee investment sourcing, underwriting, and management of private company investments. The firm, with about $1.3 billion in cash and investments as of December 31, 2020, aims to enhance its investment strategy by expanding beyond public companies. Bernstein brings extensive experience in credit and equity markets, having worked at Anchorage Capital Group and other notable firms. His role will strengthen B. Riley's relationships with syndication partners.

B. Riley Financial (NASDAQ: RILY) announced the redemption of all 7.50% Senior Notes due 2027, totaling $128,155,700, effective March 31, 2021. The redemption price includes 100% of the principal amount plus any accrued interest until the Redemption Date. After this date, these Notes will be delisted from NASDAQ under the symbol RILYZ and interest will cease to accrue. Investors are advised to contact their brokers for redemption details. This announcement is informational and does not constitute an offer to buy or sell securities.

272 Capital, LP and B. Riley Financial, representing over 10% of Tile Shop Holdings' shares, have condemned the company's Board for a lack of shareholder engagement and failure to up-list to a major exchange. Despite forming a special committee to explore a Nasdaq listing, no action has been taken. Shareholders express frustration over the Board's decisions and are planning to propose an independent board slate at the upcoming annual meeting to ensure accountability and drive value creation for all shareholders.

B. Riley Financial (RILY) reported record financial results for Q4 and FY 2020, with total revenues of $410.2 million and $902.7 million, respectively. The company's net income surged to $170.1 million ($6.55 EPS) in Q4, compared to $16.9 million ($0.59 EPS) in the prior year. Full year net income reached $200.4 million ($7.56 EPS). Operating revenues also increased significantly, demonstrating robust growth in investment banking and brokerage services. The company declared a total dividend of $3.50 per share, including a special $3.00 dividend, reflecting strong cash flow and a commitment to shareholders.

B. Riley Financial reported record financial results for Q4 and FY 2020, with total revenues of $410.2 million for Q4, up from $165.2 million in Q4 2019, and $902.7 million for FY 2020, compared to $652.1 million in FY 2019. Net income for Q4 surged to $170.1 million, or $6.55 per share, versus $16.9 million, or $0.59 per share a year earlier. The company declared an increase in its regular dividend to $0.50 and a special dividend of $3.00, citing strong earnings potential. Investment banking activities and SPAC transactions significantly contributed to Q4 profitability.

B. Riley Financial (RILY) has successfully completed its merger with National Holdings Corporation (NHLD), transforming National into a wholly-owned subsidiary of B. Riley. This strategic merger adds nearly 700 registered representatives and $20 billion in assets to B. Riley’s platform, which now features over 900 representatives managing a total of $30 billion in assets. The integration aims to enhance B. Riley Wealth Management's competitive advantage by providing clients with a broader suite of investment solutions and improved service capabilities.

B. Riley Financial (NASDAQ: RILY) has successfully completed its cash tender offer for National Holdings Corporation (NASDAQ: NHLD) shares, acquiring 5,364,675 shares for approximately $17.4 million, representing about 39% of National's outstanding shares. The offer expired on February 24, 2021, and will lead to National becoming a wholly owned subsidiary of B. Riley, with each outstanding share converting into $3.25 in cash. The merger is expected to finalize soon, and National shares will subsequently be delisted from Nasdaq.