B. Riley Financial Reduces Debt by Approximately $15 Million via Private Bond Exchange

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].