B. Riley Financial Closes $174.8M Stock Offering

TL;DR

RILEY just raised $174.8M from a stock offering, using it for growth and acquisitions.

AI Summary

On April 5, 2024, B. Riley Financial, Inc. announced the closing of its underwritten public offering of 4,600,000 shares of its common stock. The offering resulted in gross proceeds of approximately $174.8 million before deducting underwriting discounts and commissions and other offering expenses. The company intends to use the net proceeds for general corporate purposes, including potential acquisitions and strategic investments.

Why It Matters

This capital raise provides B. Riley Financial with significant funds for growth initiatives, potentially impacting its future business development and shareholder value.

Risk Assessment

Risk Level: medium — While the capital raise is positive for growth, the use of funds for acquisitions carries inherent risks, and the dilution from issuing new shares can impact existing shareholders.

Key Numbers

• $174.8M — Gross Proceeds (Raised from the public offering of common stock.)
• 4.6M — Shares Offered (Common stock shares sold in the public offering.)

Key Players & Entities

• B. Riley Financial, Inc. (company) — Issuer of the stock offering
• 4,600,000 (dollar_amount) — Number of shares offered
• $174.8 million (dollar_amount) — Gross proceeds from the stock offering
• April 5, 2024 (date) — Date of the stock offering closing

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share RILY Nasdaq Global Market

Filing Documents

• ea0203500-8k_briley.htm (8-K) — 46KB
• 0001213900-24-031252.txt ( ) — 306KB
• rily-20240405.xsd (EX-101.SCH) — 6KB
• rily-20240405_def.xml (EX-101.DEF) — 30KB
• rily-20240405_lab.xml (EX-101.LAB) — 41KB
• rily-20240405_pre.xml (EX-101.PRE) — 28KB
• ea0203500-8k_briley_htm.xml (XML) — 14KB

Forward-looking statements

Forward-looking statements This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's performance or achievements to be materially different from any expected future results, performance, or achievements. Forward-looking statements speak only as of the date they are made and the Company assumes no duty to update forward-looking statements, except as required by law. Actual future results, performance or achievements may differ materially from historical results or those anticipated depending on a variety of factors, some of which are beyond the control of the Company, including, but not limited to, the risks described from time to time in the Company's periodic filings with the SEC, including, without limitation, the risks described in the Company's 2022 Annual Report on Form 10-K under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" (as applicable). Additional information will be set forth in the Company's Annual Report on Form 10-K for the year ended 2023. 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 the Company undertakes no duty to update this information. 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: April 8, 2024 2

View Full Filing

View this 8-K filing on SEC EDGAR