Welcome to our dedicated page for BRC Group Holdings news (Ticker: RILY), a resource for investors and traders seeking the latest updates and insights on BRC Group Holdings stock.
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.
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.
B. Riley Financial has announced cash dividends for its Preferred Stock, effective August 2, 2021. The 6.875% Series A Preferred Stock will pay a dividend of $0.42968750 per depositary share, while the 7.375% Series B will distribute $0.4609375 per depositary share. Both dividends are payable to holders on record as of July 21, 2021. Each depositary share corresponds to a fractional interest in a share with a liquidation preference of $25.00.
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B. Riley Financial announced the full redemption of its 7.25% Senior Notes due 2027, totaling $122,793,450. The redemption will occur on July 26, 2021, at 100% of the principal amount along with accrued interest until the redemption date. Following the redemption, the Notes will be delisted from NASDAQ (ticker: 'RILYG') and will cease trading. Investors are advised to contact their brokers for details on the redemption payment. The company continues to provide financial solutions through its various subsidiaries.
B. Riley Principal 250 Merger Corp. (NASDAQ: BRIVU, RILY) announced that, starting June 28, 2021, holders of its units can trade shares of Class A common stock and warrants separately on Nasdaq under the symbols 'BRIV' and 'BRIVW.' Units that remain intact will continue to trade under 'BRIVU.' This allows for greater flexibility in trading for investors. The company aims to pursue a business combination with established enterprises valued between $800 million and $2 billion.
Thompson Pipe Group (TPG), a leader in large-diameter pipe solutions, has engaged B. Riley Securities for buy-side advisory services to enhance its presence in North America. Founded in 1972, TPG has grown into a significant provider of infrastructure products, specializing in water and wastewater systems. The company aims to expand through strategic acquisitions, having completed four to date. TPG is well-positioned financially, with a robust balance sheet and no third-party debt, ready to pursue tuck-in acquisitions to support organic growth.