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. (Nasdaq: RILY), formerly B. Riley Financial, Inc., regularly issues news and updates that reflect its role as a diversified holding company with financial services, telecom, retail, and investment activities. Its press releases cover developments across segments such as Capital Markets, Wealth Management, Communications, and Consumer Products, as well as group-level corporate actions.
News about BRC often highlights quarterly and annual financial results, including net income, revenues, segment performance, and non-GAAP measures such as Adjusted EBITDA, Operating Adjusted EBITDA, Investment Adjusted EBITDA, Operating Revenues, Investment Gains (Losses), Total Investments, and Net Debt. These updates may include commentary from management on segment trends, debt reduction, bond exchanges, and balance sheet initiatives.
Investors following RILY news can also expect announcements related to capital markets and investment banking activity at B. Riley Securities, such as equity and debt capital raises, carve-out transactions, and business updates on its investment banking, institutional brokerage, and research operations. Additional releases discuss wealth management developments at B. Riley Wealth, as well as performance of the Communications and Consumer Products segments.
Another recurring theme in BRC’s news flow is regulatory and listing matters, including communications about SEC filing timelines, Nasdaq notifications, and steps taken to regain or maintain timely reporting compliance. Corporate governance items, such as the appointment of auditors, proxy statements for the annual meeting, and executive compensation arrangements, also appear in company filings and related announcements.
For readers tracking RILY, this news page aggregates these company-issued updates, providing a single place to review recent earnings releases, segment highlights, capital structure developments, and key regulatory disclosures as reported by BRC Group Holdings, Inc.
B. Riley Financial, Inc. (NASDAQ:RILY) announced a conference call scheduled for October 29, 2020, at 4:30 p.m. ET to discuss its third-quarter earnings for the period ended September 30, 2020. The financial results will be disclosed in a press release before the call. The event will feature insights from key executives including Bryant Riley, Tom Kelleher, and Phillip Ahn. Interested parties can listen live or access the archived recording on the Company's investor relations website.
B. Riley Financial, Inc. (NASDAQ: RILY) announced a quarterly cash dividend of $0.42968750 for its 6.875% Series A Preferred Stock and an initial dividend of $0.29193 for its 7.375% Series B Preferred Stock. Both dividends will be payable on October 31, 2020, to record holders as of October 21, 2020. The Series A shares trade under the symbol RILYP and Series B shares under RILYL. These actions reflect the company’s commitment to returning value to shareholders.
B. Riley Financial (NASDAQ: RILY) announced a strategic investment in IQvestment Holdings, enhancing its fintech capabilities and expanding its business-to-business eCommerce platform. Chuck Hastings, CEO of B. Riley Wealth Management, and Jon Merriman, Chief Business Officer, will join IQvestment’s board and advisory board, respectively. The partnership aims to leverage B. Riley's experience and technology to improve wealth management services for retail clients. This investment positions B. Riley as a key player in the evolving digital investment landscape.
B. Riley Financial (NASDAQ: RILY) announced the launch of a new subsidiary, B. Riley Venture Capital, to invest in late-stage growth companies. Todd D. Sims, previously on the company's board, will lead this initiative. The venture capital arm aims to leverage B. Riley's strong balance sheet and syndication platform to identify and invest in promising firms poised for public markets. The company emphasizes enhancing shareholder value through strategic investments.
B. Riley Wealth Management has appointed Edward J. Grimpe as the new Regional Manager for the Southeast Region, focusing on expanding in South Florida and surrounding areas. Grimpe brings over 25 years of experience, having previously held key positions at Merrill Lynch and BB&T Scott & Stringfellow. His expertise in managing and recruiting will support B. Riley's growth strategy. Grimpe emphasizes B. Riley's collaborative culture and sophisticated services as pivotal for financial advisors seeking to better serve their clients.
B. Riley Financial (NASDAQ: RILY) announced a rebranding of its subsidiary companies to enhance consistency and client engagement. This reflects growth since its establishment in 1997 and follows a series of acquisitions since 2015, including FBR & Co. and GlassRatner. The rebranding aims to amplify the visibility of B. Riley’s diverse services, which range from financial consulting to investment banking. Co-CEOs Bryant Riley and Tom Kelleher emphasized that this initiative will improve service levels and operational efficiency for stakeholders.
B. Riley Financial, Inc. (NASDAQ:RILY) announced the commencement of store closing sales at 17 additional Sur La Table locations across the U.S. as part of a restructuring strategy initiated on August 28. This decision follows the identification of 56 stores slated for closure during the company's bankruptcy proceedings. Customers can expect discounts of up to 30% on merchandise. The liquidation sales are anticipated to last approximately five weeks or until stock is depleted, with final purchases being non-returnable. Sur La Table continues operations at over 55 locations under new ownership.
B. Riley Financial (NASDAQ: RILY) announced the pricing of its underwritten public offering of 1,300,000 depositary shares at $25.00 each, raising gross proceeds of $32.5 million. Each share represents a 1/1000th fractional interest in the Company's 7.375% Series B Cumulative Perpetual Preferred Stock, with dividends paid when declared at 7.375%. The offering is set to close around September 4, 2020, with an additional 195,000 shares available to underwriters for overallotments. Proceeds will support general corporate purposes, including acquisitions and debt repayment.
B. Riley Financial announced an underwritten public offering of depositary shares, each representing a 1/1000th fractional interest in its Series B Cumulative Perpetual Preferred Stock, with a liquidation preference of $25.00 per share. The offering will be subject to market conditions, and the company plans to use the net proceeds for general corporate purposes including acquisitions, debt repayment, and working capital. The offering is facilitated by B. Riley FBR, Incapital, and others, under an SEC shelf registration statement.
On August 12, 2020, Stein Mart filed for Chapter 11 reorganization, initiating going out of business sales across all 279 locations in the U.S. This process, overseen by a joint venture including B. Riley Financial, offers discounts of up to 30% off the lowest ticketed prices storewide. Customers can find a wide selection of discounted brand name fashions, home décor, and essentials. Additionally, gift cards and loyalty rewards will be accepted for a limited time while store fixtures will also be sold at reduced prices.