Riley Amends B. Riley Financial Stake Filing

TL;DR

Riley updated their 13D for B. Riley Financial. No major changes disclosed, just a routine update.

AI Summary

Bryant R. Riley has amended their Schedule 13D filing for B. Riley Financial, Inc. on October 30, 2024. This amendment, the second to the original filing, updates information regarding beneficial ownership of the company's common stock. The filing does not disclose specific new share acquisitions or sales but serves to keep the SEC informed of any changes in reporting person's holdings or intentions.

Why It Matters

Schedule 13D filings are crucial for transparency, alerting investors to significant changes in ownership by major shareholders, which can impact stock price and corporate strategy.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D can signal shifts in major shareholder sentiment or strategy, potentially impacting the stock.

Key Numbers

• 2 — Amendment Number (Indicates this is the second update to the original Schedule 13D filing.)

Key Players & Entities

• B. Riley Financial, Inc. (company) — Subject company
• Bryant R. Riley (person) — Filing person
• 0001213900-24-092336 (filing_id) — Accession number for the filing
• 20241030 (date) — Filing date
• February 2, 2023 (date) — Date of event requiring original filing

FAQ

Key Financial Figures

• $0.0001 — ame of Issuer) Common Stock, par value $0.0001 par value (Title of Class of Securiti
• $45,000,000 — s, for a revolving credit line of up to $45,000,000 (the “Loan Amount”) with a
• $21,407,944.18 — standing under the Credit Agreement was $21,407,944.18. The Pledge Agreement allows Axos Bank

Filing Documents

• ea0218761-13da2riley_briley.htm (SC 13D/A) — 19KB
• ea021876101ex99-1_briley.htm (EX-1) — 89KB
• ea021876101ex99-2_briley.htm (EX-2) — 20KB
• ea021876101ex99-3_briley.htm (EX-3) — 40KB
• 0001213900-24-092336.txt ( ) — 170KB

Identity and Background

Item 2. Identity and Background

of the Initial 13D is hereby amended and

Item 2 of the Initial 13D is hereby amended and restated as follows: (a) Mr. Bryant R. Riley (individual residing in California). (b)-(c) Mr. Riley serves as Chairman and Co-Chief Executive Officer of the Issuer. Mr. Riley’s business address is 11100 Santa Monica Blvd., Suite 800, Los Angeles, California 90025. (d) N/A (e) N/A (f) United States

Contracts, Arrangements, Understandings

Item 6. Contracts, Arrangements, Understandings or Relationship with Respect to Securities of the Issuer

of the Initial 13D is hereby amended and

Item 6 of the Initial 13D is hereby amended and restated as follows: As previously disclosed by the Company in recent Schedule 14A filings, including most recently the Schedule 14A filed with the SEC on May 10, 2024, Bryant R. Riley pledged as collateral a portion of his shares of Common Stock in favor of Axos Bank pursuant to the terms of a Credit Agreement, dated as of March 19, 2019, by and between Mr. Riley and Axos Bank (as amended from time to time, the “Credit Agreement’) and a Pledge Agreement, dated as of the same date, executed and delivered by Mr. Riley in favor of Axos Bank (as amended from time to time, the “Pledge Agreement”). Following the entry into the Credit Agreement and the Pledge Agreement, Mr. Riley and Axos Bank have entered into multiple amendments to both of those agreements, and Mr. Riley has pledged additional shares of Common Stock in favor of Axos Bank. Upon initially entering into the Credit Agreement and Pledge Agreement in March 2019, Mr. Riley pledged 4,024,714 shares of Common Stock. Thereafter, Mr. Riley has pledged additional shares in favor of Axos Bank on multiple occasions. As of the date hereof, Mr. Riley has pledged a total of 5,804,124 shares of Common Stock in favor of Axos Bank. The shares of Common Stock pledged by Mr. Riley constitutes only a portion of the collateral security under the Credit Agreement. 2 Neither the Company nor any of its subsidiaries is a party to the Credit Agreement, the Pledge Agreement or any other agreements between Mr. Riley and Axos Bank. The Credit Agreement currently provides, among other things, for a revolving credit line of up to $45,000,000 (the “Loan Amount”) with a Maturity Date of April 1, 2025. Interest on amounts advanced under the Credit Agreement is payable by Mr. Riley, at Mr. Riley’s option, either monthly in arrears or such interest may be accrued and added to the amount of outstanding principal under the Credit Agreement subject to

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits

of the Initial 13D is hereby amended and

Item 7 of the Initial 13D is hereby amended and supplemented as follows: Exhibit No. Description 1 Pledge Agreement, dated as of March 19, 2019, executed and delivered by Bryant R. Riley in favor of Axos Bank 2 First Amendment to Pledge Agreement, dated as of June 7, 2019, made by and between Bryant R. Riley and Axos Bank 3 Second Amendment to Pledge Agreement, dated as of May 6, 2020, made by and between Bryant R. Riley and Axos Bank 3

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct Dated: October 30, 2024 /s/ Bryant R. Riley Name: Bryant R. Riley 4

View Full Filing

View this SC 13D/A filing on SEC EDGAR