B. Riley Financial Enters Material Definitive Agreement

TL;DR

RILY just signed a big new financial deal, details to come.

AI Summary

B. Riley Financial, Inc. entered into a material definitive agreement on December 9, 2024, related to a direct financial obligation. The filing does not specify the counterparty or the exact nature of the obligation, but it is a significant event for the company's financial structure.

Why It Matters

This filing indicates a new financial commitment or obligation for B. Riley Financial, which could impact its balance sheet and future financial flexibility.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, which carries inherent financial risks that are not fully detailed.

Key Players & Entities

• B. Riley Financial, Inc. (company) — Filer
• 20241209 (date) — Date of agreement

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share RILY Nasdaq Global Market
• $500 million — ., as collateral agent, providing for a $500 million secured term loan credit facility and a
• $100 million — secured term loan credit facility and a $100 million secured revolving loan credit facility.
• $25,000,000 — ity date of the term loans if more than $25,000,000 aggregate principal amount of the March
• $10,000,000 — under certain conditions an additional $10,000,000 of telecommunications financing. There

Filing Documents

• ea0224587-8k_briley.htm (8-K) — 45KB
• 0001213900-24-108360.txt ( ) — 300KB
• rily-20241209.xsd (EX-101.SCH) — 5KB
• rily-20241209_def.xml (EX-101.DEF) — 29KB
• rily-20241209_lab.xml (EX-101.LAB) — 41KB
• rily-20241209_pre.xml (EX-101.PRE) — 28KB
• ea0224587-8k_briley_htm.xml (XML) — 14KB

01

Item 1.01 Entry into a Material Definitive Agreement As previously disclosed, B. Riley Financial, Inc., a Delaware corporation (the " Company ") and the Company's wholly owned subsidiary, BR Financial Holdings, LLC, a Delaware limited liability company (the " Borrower "), entered into a credit agreement (as amended prior to the Fifth Amendment (as defined below), the " Credit Agreement "), dated August 21, 2023, by and among the Company, the Borrower, the lenders party thereto, Nomura Corporate Funding Americas, LLC, as administrative agent (the " Administrative Agent ") and Computershare Trust Company, N.A., as collateral agent, providing for a $500 million secured term loan credit facility and a $100 million secured revolving loan credit facility. On December 9, 2024, the Company and the Borrower entered into Amendment No. 5 to Credit Agreement (the " Fifth Amendment ") with each of the lenders party thereto and the Administrative Agent, pursuant to which the parties agreed to (i) extend the springing maturity date of the term loans if more than $25,000,000 aggregate principal amount of the March 2026 bonds is outstanding to February 3, 2026 and (ii) permit under certain conditions an additional $10,000,000 of telecommunications financing. There was no fee charged in connection with the Fifth Amendment. The foregoing description of the Fifth Amendment does not purport to be complete and is qualified in its entirety by reference to the complete text of the Fifth Amendment.

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03. -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/ Bryant Riley Name: Bryant Riley Title: Chairman & Co-CEO Date: December 12, 2024 -2-

View Full Filing

View this 8-K filing on SEC EDGAR