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

B. Riley Securities has announced its 25th Annual Investor Conference, scheduled for May 21-22, 2025, at the Ritz-Carlton, Marina Del Rey in California. The premier West Coast event will feature approximately 200 public companies presenting to over 1,000 attendees including institutional, private equity, and venture capital investors.

The two-day conference will include research analyst-moderated executive roundtables, fireside chats, thematic industry panel discussions, and one-on-one meetings with corporate management teams. CEO Andy Moore emphasized the conference's role in creating value for clients and maintaining long-standing partnerships.

The event is invitation-only, with B. Riley's award-winning equity research team curating a mix of new and established companies. Interested parties can request invitations via email at 1on1@brileyfin.com, while sponsorship inquiries should be directed to conference@brileyfin.com.

B. Riley Financial (NASDAQ: RILY) has filed its Q2 2024 Form 10-Q, with financial statements matching preliminary results released on August 12, 2024. The company disclosed a preliminary cash balance of $257 million as of December 31, 2024, which includes reserves for February 2025 Senior Notes payment.

The company acknowledged delays in financial filings due to significant events in 2024 and expects to file Q3 2024 report soon to regain Nasdaq compliance. Management indicates plans to retire February 2025 Senior Notes as scheduled and reports taking actions to monetize non-core assets and deleverage the balance sheet. The company maintains strong net capital levels in its broker dealer and anticipates capitalizing on expected recovery in small- and mid-cap equity markets.

B. Riley Financial (NASDAQ: RILY) received an additional delinquency notification from Nasdaq on November 20, 2024, for non-compliance with listing rules due to delayed filing of Quarterly Reports for periods ended June 30 and September 30, 2024. While this notification doesn't immediately affect the company's Nasdaq listing, B. Riley must submit an updated compliance plan by December 5, 2024. If accepted, Nasdaq may grant up to 180 calendar days (until February 17, 2025) to regain compliance. The company attributes the delays to significant events and transactions in 2024 and expects to resume normal filing schedules in 2025.

B. Riley Financial and Oaktree Capital Management announced the launch of Great American Group as an independent business following their partnership formation. B. Riley received approximately $203 million in cash, Class B Preferred Units with an initial liquidation preference of about $183 million, and Class A Common Units representing roughly 47% of total outstanding common units. The company expects to record a $235 million gain on this investment in Q4 2024. The transaction allows B. Riley to reduce its debt while maintaining significant equity in the business.

B. Riley Securities announces its inaugural Energy Convergence Conference: Mining, Nuclear and Infrastructure scheduled for December 4th at Hotel Eventi New York. The event will bring together public companies and industry experts from mining, nuclear energy, and U.S. infrastructure sectors to present to institutional investors. The conference will feature panel discussions, analyst-moderated roundtables, and one-on-one meetings with corporate executives. The event is invitation-only and represents B. Riley's effort to connect middle market institutional investors with companies in these sectors during a period of market inflection.

B. Riley Financial (NASDAQ: RILY) has announced an agreement to sell part of its traditional (W-2) Wealth Management business to Stifel Financial Corp. (NYSE: SF) for an estimated $27-35 million in cash. The deal involves the transition of 40-50 advisors managing approximately $3.5-4.5 billion in assets to Stifel in early 2025. The transaction excludes B. Riley's 190 independent advisors and 90 tax professionals. The company cites disruption to its Wealth Management business due to competitors capitalizing on concerns about its principal investments business as a key factor in this strategic decision.

B. Riley Financial (NASDAQ: RILY) and its subsidiary bebe stores have completed a brand assets transaction generating $236 million in cash proceeds. The deal involved transferring interests in multiple brand licenses including Hurley, Justice, and Scotch & Soda to a securitization vehicle for $189 million, while bebe sold its interests in bebe and Brookstone brands for $47 million. B. Riley had originally acquired the brand portfolio (excluding bebe and Brookstone) for $222 million and received $179 million in distributions during ownership. The company plans to use proceeds to reduce senior secured debt and deleverage its balance sheet. Additionally, B. Riley expects to sell a majority stake in Great American Group in late November.

B. Riley Financial (NASDAQ: RILY) has announced cash dividends for its 6.875% Series A and 7.375% Series B Cumulative Perpetual Preferred Stock. The dividends are payable on October 31, 2024, to holders of record as of October 28, 2024. Each depositary share represents a 1/1000th fractional interest in a share of the respective Preferred Stock, with a liquidation preference of $25.00 per depositary share.

The dividend for the 6.875% Series A Preferred Stock (NASDAQ: RILYP) is $0.42968750 per depositary share, while the 7.375% Series B Preferred Stock (NASDAQ: RILYL) will pay $0.4609375 per depositary share.

B. Riley Financial (Nasdaq: RILY) has signed a definitive agreement with Oaktree Capital Management to establish a partnership in Great American Holdings, (Great American NewCo). B. Riley will contribute its Great American Group businesses to the new entity. The transaction, valued at $386 million, includes:

1. B. Riley receiving $203 million in cash
2. Class B Preferred Units with $183 million initial liquidation preference
3. Class A Common Units representing 47% ownership

Oaktree will acquire Class A Preferred Units and 53% of Class A Common Units for $203 million. The deal is expected to close in Q4 2024, subject to regulatory approvals. This partnership aims to reduce B. Riley's debt while maintaining equity upside and leveraging Oaktree's expertise to enhance growth prospects for Great American Group's services.