Business
B. Riley Financial Provides Update on Quarterly Filing Process
Announces Notification of Additional Delinquency with Nasdaq for Late Filing of Form 10-Q for Period Ended September 30, 2024 Expects to Return to Normal
About this update from Brc Group Holdings, Inc.
[{"type":"text","content":"Announces Notification of Additional Delinquency with Nasdaq for Late Filing of Form 10-Q for Period Ended September 30, 2024\nExpects to Return to Normal Filing Cadence in 2025\nLOS ANGELES, Nov. 26, 2024 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) (\"B. Riley\" or the \"Company\"), a diversified financial services company, today announced it received an additional delinquency notification letter from Nasdaq on November 20, 2024, which indicated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the delayed filing of the Company's Quarterly Reports on Form 10-Q for the periods ended June 30, 2024 and September 30, 2024. The Nasdaq Listing Rule requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the \"SEC\"). This notification has no immediate effect on the listing of the Company's securities on Nasdaq.\n\nNasdaq has informed the Company that it must submit an update to its original plan to regain compliance with respect to the filing requirement by December 5, 2024. If the updated plan is accepted, Nasdaq can grant an exception of up to 180 calendar dates from the due date of the initial delinquent filing for the period ended June 30, 2024, or until February 17, 2025, to regain compliance.\nThe Company regrets the continued delays in its quarterly filings, which have been impacted by a confluence of significant events and transactions completed in 2024. The Company is working diligently to file the Quarterly Reports for both the second and third quarters as promptly as practical, and expects to return to a normal filing cadence in 2025.\nAbout B. Riley FinancialB. Riley Financial is a diversified financial services company 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 financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, ap...