B. Riley Financial Faces Listing Rule Concerns
Ticker: RILYT · Form: 8-K · Filed: Mar 22, 2024 · CIK: 1464790
| Field | Detail |
|---|---|
| Company | B. Riley Financial, Inc. (RILYT) |
| Form Type | 8-K |
| Filed Date | Mar 22, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | bearish |
Sentiment: bearish
Topics: listing-rule, delisting-risk, compliance
Related Tickers: RILY
TL;DR
B. Riley Financial might be in trouble with listing rules - stock could be delisted.
AI Summary
B. Riley Financial, Inc. filed an 8-K on March 22, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard. The filing indicates a potential issue with meeting listing requirements, which could impact the company's stock trading status.
Why It Matters
This filing signals potential issues with B. Riley Financial's compliance with stock exchange listing standards, which could lead to delisting and affect investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards is a significant concern that could directly impact the company's ability to trade on an exchange.
Key Players & Entities
- B. Riley Financial, Inc. (company) — Filer of the 8-K
- 20240322 (date) — Filing date of the 8-K
- Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard (event) — Subject of the 8-K filing
FAQ
What specific listing rule or standard has B. Riley Financial failed to satisfy?
The filing does not specify the exact rule or standard that has not been met, only that a notice has been issued.
What is the potential consequence of failing to satisfy a continued listing rule?
The consequence could be the delisting of the company's securities from the stock exchange.
When was this 8-K filing submitted?
The 8-K was filed on March 22, 2024.
Has B. Riley Financial provided any details on how they plan to address the listing rule issue?
The provided text of the filing does not contain information about the company's plan to address the issue.
What is the ticker symbol for B. Riley Financial?
The ticker symbol for B. Riley Financial is RILY, as indicated by the associated security identifiers.
Filing Stats: 858 words · 3 min read · ~3 pages · Grade level 10 · Accepted 2024-03-22 16:40:36
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share RILY Nasdaq Global Market
Filing Documents
- ea0202243-8k_briley.htm (8-K) — 46KB
- ea020224301ex99-1_briley.htm (EX-99.1) — 11KB
- ex99-1_001.jpg (GRAPHIC) — 11KB
- ex99-1_002.jpg (GRAPHIC) — 8KB
- 0001213900-24-025186.txt ( ) — 348KB
- rily-20240318.xsd (EX-101.SCH) — 6KB
- rily-20240318_def.xml (EX-101.DEF) — 30KB
- rily-20240318_lab.xml (EX-101.LAB) — 41KB
- rily-20240318_pre.xml (EX-101.PRE) — 28KB
- ea0202243-8k_briley_htm.xml (XML) — 14KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing On March 18, 2024, B. Riley Financial, Inc. (the "Company") received a notice (the "Notice") from the Nasdaq Stock Market LLC ("Nasdaq"), which indicated that, as a result of the Company's delay in filing its Annual Report on Form 10-K for the year ended December 31, 2023 (the "Annual Report"), the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule"), which requires Nasdaq-listed companies to timely file all required periodic financial reports with the U.S. Securities and Exchange Commission (the "SEC"). The Notice states that the Company has 60 calendar days from the date of the Notice, or until May 17, 2024, to submit a plan to regain compliance with the Rule. If Nasdaq accepts the Company's plan to regain compliance, then Nasdaq may grant the Company up to 180 calendar days from the prescribed due date of its Annual Report, or until September 11, 2024, to file its Annual Report to regain compliance. The Notice has no immediate effect on the listing of the Company's securities on Nasdaq. The Company continues to work diligently to complete its Annual Report and plans to file its Annual Report as promptly as possible to regain compliance with the Rule.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure On March 22, 2024, the Company issued a press release in accordance with Nasdaq Listing Rule 5810(b) announcing that the Company had received the Notice. A copy of the press release is attached hereto as Exhibit 99.1. The information set forth in this Item 7.01 and Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of such section. The information in this Item 7.01 and Exhibit 99.1 attached hereto, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing to this Current Report.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release dated March 22, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. B. Riley Financial, Inc. By: /s/ Phillip J. Ahn Name: Phillip J. Ahn Title: Chief Financial Officer and Chief Operating Officer Date: March 22, 2024 2