LOS
ANGELES, May 1, 2024 /PRNewswire/ -- B. Riley
Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the "Company") today
announced that it has called for the full redemption equal to
$25,000,000 aggregate principal
amount of its 6.75% Senior Notes due 2024 (the "Notes") on
May 31, 2024 (the "Redemption
Date").
The redemption price is equal to 100% of the aggregate principal
amount, plus any accrued and unpaid interest up to, but excluding,
the Redemption Date, as set forth in each notice of redemption
delivered to noteholders on May 1,
2024.
Interest on the Notes will cease to accrue on and after the
Redemption Date. The Notes, which are listed on NASDAQ under the
ticker symbol "RILYO," will be delisted and cease trading on the
Redemption Date.
Investors in the Notes should contact the bank or broker through
which they hold a beneficial interest in the Notes for information
about the Redemption Payment.
This press release is for informational purposes only and
shall not constitute a notice of redemption of the Notes or an
offer to purchase, or a solicitation of an offer to sell, any Notes
or other securities.
About B. Riley Financial
B. Riley Financial is a
diversified financial services platform that delivers tailored
solutions to meet the strategic, operational, and capital needs of
its clients and partners. B. Riley leverages cross-platform
expertise to provide clients with full service, collaborative
solutions at every stage of the business life cycle. Through its
affiliated subsidiaries, B. Riley provides end-to-end,
collaborative 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. B. Riley opportunistically invests to
benefit its shareholders, and certain affiliates originate and
underwrite senior secured loans for asset-rich companies. B. Riley
refers to B. Riley Financial, Inc. and/or one or more of its
subsidiaries or affiliates. For more information, please visit
www.brileyfin.com.
Forward-Looking Statements
Statements in this press
release that are not descriptions of historical facts are
forward-looking statements that are based on management's current
expectations and assumptions and are subject to risks and
uncertainties. You should not place undue reliance on such
forward-looking statements, which are based on the information
currently available to us and speak only as of the date of this
press release. Such forward-looking statements include, but are not
limited to, statements regarding the terms and conditions and
timing of redemption of these Notes. Because these forward-looking
statements involve known and unknown risks and uncertainties, there
are important factors that could cause actual results, events or
developments to differ materially from those expressed or implied
by these forward-looking statements. Factors that could cause
actual results to differ include (without limitation) the Company's
financial performance; and those risks described from time to time
in B. Riley Financial's periodic filings with the SEC, including,
without limitation, the risks described in B. Riley Financial's
Annual Report on Form 10-K for the year ended December 31, 2023 under the captions "Risk
Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations." These factors should be
considered carefully, and readers are cautioned not to place undue
reliance on such forward-looking statements. All information is
current as of the date this press release is issued, and B. Riley
Financial undertakes no duty to update this information.
Contact
Investors
Mike Frank
ir@brileyfin.com
(212) 409-2424
Media
Jo Anne McCusker
press@brileyfin.com
(646) 885-5425
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SOURCE B. Riley Financial