BRC Group Holdings Stock Price, News & Analysis
Company Description
BRC Group Holdings, Inc. Depositary Shares, each representing a 1/1000th fractional interest in a share of Series A Cumulative Perpetual Preferred, trade under the symbol RILYP on the Nasdaq Global Market. According to B. Riley Financial, Inc.’s SEC filings, these securities are depositary shares, with each depositary share representing a 1/1000th interest in a 6.875% Series A Cumulative Perpetual Preferred Share, par value $0.0001 per share. The RILYP preferred stock is part of the capital structure of B. Riley Financial, Inc., an issuer operating in the investment banking and securities dealing industry within the broader finance and insurance sector.
The RILYP depositary shares are structured as cumulative perpetual preferred stock. As described in multiple dividend announcements, the Series A preferred carries a 6.875% rate and is represented in the market by depositary shares, each of which corresponds to a 1/1000th fractional interest in an underlying preferred share with a liquidation preference equivalent to $25.00 per depositary share. The cumulative feature means that declared but unpaid dividends on the Series A preferred would accumulate in favor of holders, as reflected in recurring dividend declarations by B. Riley Financial.
In SEC filings, B. Riley Financial lists the RILYP depositary shares among its securities registered under Section 12(b) of the Securities Exchange Act of 1934, alongside its common stock and other preferred and debt instruments. These filings confirm that RILYP is listed on the Nasdaq Global Market and identify it specifically as “Depositary Shares (each representing a 1/1000th interest in a 6.875% Series A Cumulative Perpetual Preferred Share, par value $0.0001 per share).” This classification underscores that investors in RILYP hold fractional economic interests in the Series A preferred stock rather than direct ownership of whole preferred shares.
The issuer of the RILYP preferred stock, B. Riley Financial, Inc., describes itself in repeated public disclosures as a diversified financial services platform. Through its affiliated subsidiaries, it states that it provides financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction, and liquidation services. The company also notes that it opportunistically invests to benefit its shareholders and that certain affiliates originate and underwrite senior secured loans for asset-rich companies. These activities form the broader business context in which the RILYP preferred stock exists.
RILYP sits alongside other listed securities of B. Riley Financial, including additional series of preferred stock and several series of senior notes due in 2026 and 2028, as disclosed in its Form 8-K filings. The presence of multiple preferred series and senior notes highlights that B. Riley Financial makes use of various capital markets instruments to support its operations and financing needs. Within this structure, the Series A Cumulative Perpetual Preferred represented by RILYP provides a layer of preferred equity with stated dividend terms and a defined liquidation preference per depositary share.
According to repeated dividend announcements, B. Riley Financial has declared cash dividends on the 6.875% Series A Cumulative Perpetual Preferred Stock represented by RILYP on a recurring basis over multiple years. Each announcement specifies the per-share dividend amount for the depositary shares and reiterates that each depositary share represents a 1/1000th fractional interest in a Series A preferred share with a liquidation preference equivalent to $25.00 per depositary share. These disclosures indicate that the issuer has a practice of declaring periodic dividends on the Series A preferred, subject to its corporate decisions and applicable terms.
RILYP is therefore best understood as a preferred equity security linked to a diversified financial services company that operates in investment banking and securities dealing. The security’s key structural characteristics—cumulative dividends, perpetual term, representation through depositary shares, and a defined liquidation preference per depositary share—are all drawn from the issuer’s public news releases and SEC filings. Investors researching RILYP are typically evaluating the terms of the preferred stock, its place in B. Riley Financial’s capital structure, and the broader business profile of the issuer as disclosed in its public statements.
Business context of the issuer
The underlying issuer, B. Riley Financial, states that it delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. Its public descriptions emphasize that, through affiliated subsidiaries, it provides financial services across the business life cycle. These services include investment banking and institutional brokerage, which relate directly to its classification in the investment banking and securities dealing industry, as well as private wealth and investment management and a range of advisory and consulting services.
In addition to advisory and capital markets activities, B. Riley Financial discloses that it opportunistically invests to benefit its shareholders. Certain affiliates are described as originating and underwriting senior secured loans for asset-rich companies. These statements, repeated across multiple dividend press releases, indicate that the issuer combines fee-based financial services with principal investment and lending activities, which together support the financial profile behind its preferred and debt securities, including RILYP.
Exchange listing and regulatory disclosures
Multiple Form 8-K filings identify the RILYP depositary shares as being listed on the Nasdaq Global Market. In the table of securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934, B. Riley Financial lists its common stock under the symbol RILY, the Series A preferred depositary shares under the symbol RILYP, the Series B preferred depositary shares under the symbol RILYL, and several senior notes under symbols such as RILYG, RILYK, RILYN, RILYZ, and RILYT. This disclosure confirms the trading venue and formal registration status of RILYP as part of the company’s publicly traded securities.
In addition, B. Riley Financial’s later filings, including notifications of late filing (Form 12b-25) and 8-Ks related to material events, continue to reference the RILYP depositary shares in the list of registered securities, which indicates that RILYP remains part of the company’s listed capital structure as of the dates of those filings. These documents also show that the company provides ongoing regulatory updates about its financial reporting status and capital markets transactions, which are relevant for investors in both its common and preferred securities.
Relationship to the finance and insurance sector
The RILYP preferred stock is tied to an issuer that operates in the finance and insurance sector, specifically within investment banking and securities dealing. B. Riley Financial’s own descriptions of its activities—covering investment banking, institutional brokerage, private wealth and investment management, and corporate advisory services—align with this classification. Its role as a diversified financial services platform, combined with its issuance of preferred stock and senior notes, places RILYP within a broader ecosystem of capital instruments used by financial firms to support their advisory, brokerage, and investment operations.
Key structural features of RILYP (as disclosed)
- Security type: Depositary Shares, each representing a 1/1000th interest in a 6.875% Series A Cumulative Perpetual Preferred Share, par value $0.0001 per share, as stated in B. Riley Financial’s SEC filings.
- Dividend terms: The issuer’s recurring dividend announcements describe the Series A preferred as 6.875% cumulative perpetual preferred stock, with declared cash dividends per depositary share and a liquidation preference equivalent to $25.00 per depositary share.
- Listing: RILYP is listed on the Nasdaq Global Market, as shown in the company’s tables of securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934.
- Issuer industry: The issuer operates in investment banking and securities dealing within the finance and insurance sector, based on the provided industry classification and the issuer’s own description of its financial services activities.