B. Riley Financial Faces Listing Rule Concerns
Ticker: RILYT · Form: 8-K · Filed: Aug 23, 2024 · CIK: 1464790
| Field | Detail |
|---|---|
| Company | B. Riley Financial, Inc. (RILYT) |
| Form Type | 8-K |
| Filed Date | Aug 23, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: listing-rule, delisting, compliance
Related Tickers: RILY
TL;DR
B. Riley Financial might be in hot water with listing rules, potentially affecting the stock.
AI Summary
B. Riley Financial, Inc. filed an 8-K on August 23, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard, and a transfer of listing. The filing also includes Regulation FD disclosures and financial statements and exhibits. The specific details regarding the delisting or listing standard failure are not elaborated in the provided text.
Why It Matters
This filing indicates potential issues with B. Riley Financial's compliance with stock exchange listing requirements, which could impact investor confidence and stock liquidity.
Risk Assessment
Risk Level: medium — Concerns about meeting listing standards can signal underlying financial or operational issues that may affect the company's stability.
Key Players & Entities
- B. Riley Financial, Inc. (company) — Filer
- Great American Group, Inc. (company) — Former Company Name
FAQ
What specific listing rule or standard has B. Riley Financial failed to satisfy?
The provided text does not specify which particular listing rule or standard B. Riley Financial has failed to satisfy.
What is the nature of the transfer of listing mentioned in the filing?
The filing mentions a transfer of listing, but the specific details of this transfer are not provided in the excerpt.
When was this 8-K filing submitted?
The 8-K filing was submitted on August 23, 2024.
What is the Central Index Key (CIK) for B. Riley Financial, Inc.?
The Central Index Key for B. Riley Financial, Inc. is 0001464790.
What was B. Riley Financial, Inc.'s former company name?
B. Riley Financial, Inc.'s former company name was Great American Group, Inc.
Filing Stats: 841 words · 3 min read · ~3 pages · Grade level 10.2 · Accepted 2024-08-23 17:15:08
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share RILY Nasdaq Global Market
Filing Documents
- ea021230501-8k_briley.htm (8-K) — 47KB
- ea021230501ex99-1_briley.htm (EX-99.1) — 8KB
- image_001.jpg (GRAPHIC) — 4KB
- 0001213900-24-072275.txt ( ) — 319KB
- rily-20240821.xsd (EX-101.SCH) — 5KB
- rily-20240821_def.xml (EX-101.DEF) — 29KB
- rily-20240821_lab.xml (EX-101.LAB) — 41KB
- rily-20240821_pre.xml (EX-101.PRE) — 28KB
- ea021230501-8k_briley_htm.xml (XML) — 14KB
01 Notice of Delisting or Failure to Satisfy a Continued
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing On August 21, 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 Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 (the "Quarterly 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 October 20, 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 Quarterly Report, or until February 10, 2025, to file its Quarterly 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 file the Quarterly Report as promptly as practical to regain compliance with the Rule.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure On August 23, 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 August 23, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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: August 23, 2024