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B. Riley Financial Announces Partial Redemption of 6.75% Senior Notes due 2024
LOS ANGELES, Jan. 30, 2024 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the "Company") today announced that it has called for the
About this update from Brc Group Holdings, Inc.
[{"type":"text","content":"LOS ANGELES, Jan. 30, 2024 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) (\"B. Riley\" or the \"Company\") today announced that it has called for the partial redemption of $115,492,400 aggregate principal amount of its 6.75% Senior Notes due 2024 (the \"Notes\") on February 29, 2024 (the \"Redemption Date\"). This partial redemption is being conducted to satisfy the Company's obligations under its credit facility pursuant to which any amounts outstanding on the Notes in excess of $25.0 million must be redeemed on a date that is 91 days prior to the maturity date of the Notes.\n\n \n \n \n \n \n \n\n \nThe redemption price is equal to 100% of the aggregate principal amount, plus any accrued and unpaid interest up to, but excluding, the Redemption Date (the \"Redemption Payment\"). Interest on the redeemed Notes will cease to accrue interest on and after the Redemption Date. The remaining $25.0 million aggregate principal amount of Notes will continue to accrue interest in accordance with the terms of the Company's Indenture and the Notes.\nThe Notes are listed on NASDAQ under the ticker symbol \"RILYO\" and mature on May 31, 2024 (the \"Maturity Date\"). The aggregate principal amount of the Notes currently outstanding is approximately $140,492,400. It is anticipated that the remaining Notes will be repaid on the Maturity Date.\nInvestors in the Notes should contact the bank or broker through which they hold a beneficial interest in the Notes for information about the Redemption Payment.\nThis press release is for informational purposes only and shall not constitute a notice of redemption of the Notes or an offer to purchase, or a solicitation of an offer to sell, any Notes or other securities.\nAbout B. Riley FinancialB. Riley Financial is a diversified financial services platform that delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. B. Riley leverages cross-platform expertise to provide clients with full service, collaborative solutions at every stage of the business life cycle. Through its affiliated subsidiaries, B. Riley provides end-to-end, collaborative financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance...