RILY - B. Riley Financial: RILYM Holders Score A Winner

2025-01-14 18:07:49 ET

Summary

• On Tuesday, securities of B. Riley Financial rallied across the board after the company filed its much-delayed Q2 2024 financial report on form 10-Q with the SEC.
• The company expects to file the Q3 2024 financial report in the near future, which should be sufficient to regain compliance with Nasdaq listing requirements.
• Cash and cash equivalents at year-end amounted to $257 million, of which approximately $150 million was earmarked for the redemption of the company's RILYM baby bonds on February 28.
• Last week, a new credit agreement with the Banc of California provided B. Riley with some incremental liquidity.
• That said, addressing the 2026 debt wall remains a Herculean task for the beleaguered company, with no clear path forward at this point. Hopefully, Bryant Riley will be able to pull a rabbit out of his hat as otherwise equity holders might end up holding the bag.

Note

I have covered B. Riley Financial, Inc. or “B. Riley” (NASDAQ: RILY , NASDAQ: RILYL , NASDAQ: RILYP , NASDAQ: RILYM , NASDAQ: RILYK , NASDAQ: RILYN , NASDAQ: RILYG , NASDAQ: RILYT , NASDAQ: RILYZ ) previously, so investors should view this as an update to my earlier articles on the company. ...

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