Core Viewpoint - B. Riley Financial, Inc. will host a conference call to discuss its financial performance for the fiscal year 2024 and provide a preliminary update for the first half of 2025 on August 13, 2025 [1][2]. Group 1: Conference Call Details - The conference call will feature Bryant Riley, Chairman and Co-CEO, Tom Kelleher, Co-CEO, and Scott Yessner, CFO, who will provide a comprehensive financial and business update [2]. - The call is scheduled for August 13, 2025, at 4:30 PM ET (1:30 PM PT) and can be accessed via the company's investor relations website [2]. - An audio recording of the call will be available for replay until September 12, 2025 [2]. Group 2: Company Overview - B. Riley Financial is a diversified financial services company that offers tailored solutions to meet the strategic, operational, and capital needs of its clients [3]. - The company provides a wide range of financial services, including investment banking, institutional brokerage, private wealth management, financial consulting, corporate restructuring, and more [3]. - B. Riley Financial also engages in opportunistic investments to benefit its shareholders and has affiliates that originate and underwrite senior secured loans for asset-rich companies [3].

Core Viewpoint - B. Riley Financial, Inc. has entered into a privately negotiated exchange agreement that will reduce its total outstanding debt by approximately $18 million [1][2]. Debt Exchange Details - The agreement involves the exchange of approximately $43 million in outstanding Senior Notes for $25 million in newly issued 8.00% Senior Secured Second Lien Notes due January 1, 2028 [2]. - The outstanding Senior Notes include $2 million in September 2026 notes, $20 million in December 2026 notes, $5 million in January 2028 notes, and $16 million in August 2028 notes [2]. - The company is also issuing warrants to purchase approximately 98,000 common shares at an exercise price of $10.00 per share, exercisable for seven years from the issuance date [2]. Impact on Debt Structure - After the exchange, the total balance of the Notes will be $229 million, with $21 million of capacity remaining [3]. - This marks the fifth bond exchange negotiated by the company in four months, resulting in a total debt reduction of approximately $126 million [3]. - The company aims to further improve its balance sheet by utilizing the remaining capacity under its Senior Secured Second Lien facility [3]. Company Overview - B. Riley Financial is a diversified financial services company that provides tailored solutions across various financial sectors, including investment banking, institutional brokerage, and corporate restructuring [5]. - The company leverages cross-platform expertise to deliver collaborative solutions at every stage of the business life cycle [5].

Core Viewpoint - B. Riley Financial has amended its senior secured credit agreement, enhancing operational flexibility and reducing outstanding debt to $62.5 million [1][2]. Group 1: Amendment Details - The amended Term Loan Facility introduces a new investment basket allowing an additional $100 million for transactions using B. Riley's balance sheet [2]. - The investment basket for parent company investments has been increased from $20 million to $30 million [2]. - The company can now deploy up to $25 million of cash to reduce other indebtedness, including potential repurchases of unsecured notes [2]. Group 2: Management Commentary - Bryant Riley, Chairman and Co-CEO, expressed appreciation for the relationship with Oaktree and the enhanced opportunities provided by the amendment [3]. - The initial credit agreement, executed in February 2025, was used to retire outstanding debt and fund working capital, with no incremental borrowings allowed under the Term Loan Facility [3]. Group 3: Company Overview - B. Riley Financial is a diversified financial services company offering tailored solutions across various sectors, including investment banking, private wealth management, and corporate restructuring [4]. - The company leverages cross-platform expertise to provide comprehensive financial services throughout the business life cycle [4].

Core Viewpoint - B. Riley Financial, Inc. has entered into a privately negotiated exchange agreement that will reduce its total outstanding debt by approximately $15 million [1][2]. Debt Exchange Details - The agreement involves the exchange of approximately $28 million in outstanding Senior Notes for $13 million in newly issued 8.00% Senior Secured Second Lien Notes due January 1, 2028 [2]. - The outstanding Senior Notes consist of $8 million in December 2026 notes, $2 million in January 2028 notes, and $18 million in August 2028 notes [2]. - The company is also issuing warrants to purchase approximately 52,000 common shares at an exercise price of $10.00 per share, exercisable for seven years from the issuance date [2]. Financial Impact - After the exchange, the balance of the Notes will be approximately $204 million, with remaining capacity of $46 million [3]. - This marks the fourth bond exchange negotiated by the company in three months, cumulatively reducing total outstanding debt by approximately $108 million [3]. Company Overview - B. Riley Financial is a diversified financial services company that provides tailored solutions across various financial sectors, including investment banking, institutional brokerage, and financial consulting [5]. - The company aims to improve its capital structure and balance sheet through strategic financial maneuvers [3].

Transaction Overview - B Riley Financial has sold its financial advisory services business GlassRatner [1] - The buyer is Canadian private equity firm TorQuest Partners [1]

Core Points - B. Riley Financial, Inc. received a notification from Nasdaq regarding non-compliance due to delayed filings of its Annual Report on Form 10-K for the period ended December 31, 2024, and Quarterly Report on Form 10-Q for the period ended March 31, 2025 [1] - The company expects to return to a normal filing cadence by Fall 2025 [3] - Nasdaq has granted an exception allowing the company to regain compliance with the filing requirements by September 29, 2025 [2] Company Overview - B. Riley Financial is a diversified financial services company that provides tailored solutions to meet the strategic, operational, and capital needs of its clients [4] - The company offers a wide range of services including investment banking, institutional brokerage, private wealth management, financial consulting, corporate restructuring, and more [4] - B. Riley also engages in opportunistic investments to benefit its shareholders and has affiliates that originate and underwrite senior secured loans for asset-rich companies [4]

Core Viewpoint - B. Riley Financial, Inc. has entered into a privately negotiated exchange agreement that will reduce its total outstanding debt by approximately $46 million and eliminate more than $100 million in 2026 maturities [1][3]. Group 1: Debt Exchange Agreement - The agreement involves the exchange of approximately $139 million in outstanding Senior Notes for $93 million in newly issued 8.00% Senior Secured Second Lien Notes due January 1, 2028 [2]. - The outstanding Senior Notes include $30 million in March 2026 notes, $75 million in December 2026 notes, and $35 million in January 2028 notes [2]. - The company is also issuing warrants to the investor to purchase approximately 372,000 common shares at an exercise price of $10.00 per share, exercisable for seven years [2]. Group 2: Management Commentary - Bryant Riley, Chairman and Co-CEO, stated that the company has made significant progress in addressing its capital structure, negotiating three bond exchanges to reduce total outstanding debt by approximately $93 million [3]. - The current exchange is noted as the largest to date and represents a significant reduction in near-term debt, marking an important step forward for the company [3]. - The company plans to opportunistically utilize the remaining capacity under its Senior Secured Second Lien facility to further improve its balance sheet [3]. Group 3: Company Overview - B. Riley Financial is a diversified financial services company that provides tailored solutions across various sectors, including investment banking, institutional brokerage, and financial consulting [5]. - The company leverages cross-platform expertise to deliver collaborative solutions at every stage of the business life cycle [5].

Core Viewpoint - B. Riley Securities Holdings, Inc. has provided a business and financial update following its carve-out from B. Riley Financial, Inc., emphasizing a commitment to financial transparency and long-term value creation despite macroeconomic uncertainties [1][2]. Financial Performance - For the year 2024, B. Riley Securities reported total revenue of $217.7 million and adjusted net income of $33.1 million, while experiencing a net loss of $14.5 million [4][12]. - The adjusted financials reflect contributions from Cascadia Investments Inc. and other subsidiaries as if they had been completed on January 1, 2024 [5][11]. Debt and Cash Position - The company is now completely debt-free, having repaid all $12.4 million of its outstanding debt, and holds $68 million in cash and securities as of the carve-out effective date [6][5]. Operational Highlights - In 2024, B. Riley Securities raised $16.5 billion in debt and equity for clients and expanded its capabilities in key areas such as Convertibles and Liability Management [3]. - The advisory practice has been realigned to better serve core clients, focusing on Capital Markets [3]. Strategic Focus - The company aims to enhance visibility into its strategy and vision for value creation, positioning itself for sustainable growth and maximizing shareholder value [2][3].

Core Viewpoint - B. Riley Financial has appointed Scott Yessner as the new Chief Financial Officer, effective June 3, 2025, succeeding Phillip Ahn, who is leaving for another opportunity [1][3]. Group 1: Appointment Details - Scott Yessner has been a strategic advisor for B. Riley Financial for the past two months prior to his appointment [1]. - Phillip Ahn has been with B. Riley for over a decade and has played a significant role in the company's executive team [3]. Group 2: Scott Yessner's Background - Mr. Yessner has extensive experience as a CFO, having previously improved EBITDA by $40 million at CEMCO and $45 million at Universal Technical Institute, with the latter seeing a 250% increase in stock price during his tenure [2][4]. - He has also held executive roles at Wells Fargo Advisors and MUFG Union Bank, and has experience advising private equity firms [5]. Group 3: Company Insights - B. Riley Financial is a diversified financial services company that provides a wide range of solutions including investment banking, private wealth management, and corporate restructuring [6]. - The company aims to deliver tailored solutions to meet the strategic, operational, and capital needs of its clients [6].

Core Viewpoint - B. Riley Financial, Inc. has entered into a privately negotiated exchange agreement with an institutional investor, which will reduce the company's total outstanding debt by approximately $12 million [1][2]. Debt Exchange Details - The investor will exchange approximately $22 million in outstanding Senior Notes for $10 million in newly issued 8.00% Senior Secured Second Lien Notes due January 1, 2028 [2]. - The company is also issuing warrants to the investor for approximately 40,000 common shares at an exercise price of $10.00 per share, which are exercisable for a period of seven years from the issuance date [2]. Management Commentary - Bryant Riley, Chairman and Co-Chief Executive Officer of B. Riley Financial, stated that this exchange is a step forward in strengthening the company's capital structure and that the company will continue to utilize its Senior Secured Second Lien facility for further transactions to improve its balance sheet [3]. Company Overview - B. Riley Financial is a diversified financial services company that provides tailored solutions across various sectors, including investment banking, institutional brokerage, private wealth management, and corporate restructuring [5]. - The company aims to deliver collaborative solutions at every stage of the business life cycle and opportunistically invests to benefit its shareholders [5].