B Riley Financial Inc
NASDAQ:RILY
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B Riley Financial Inc
B. Riley Financial, Inc. provides financial services and solutions to the capital raising and financial advisory needs of public and private firms. The company is headquartered in Los Angeles, California and currently employs 1,406 full-time employees. The company went IPO on 2009-08-03. The firm's operating segments include the Capital Markets segment, which provides investment banking, securities lending, and trading services to corporate and institutional clients. The Wealth Management segment provides wealth management and tax services to corporate, institutional and high net worth clients. The Auction and Liquidation segment provides auction and liquidation services to help clients dispose of assets that include multi-location retail inventory, intellectual property and real property. The Financial Consulting segment provides bankruptcy, financial advisory, forensic accounting, and appraisal services. The Principal Investments - United Online and magicJack segment provides consumer Internet access and related subscription services from United Online and cloud communication services primarily through the magicJack devices. The Brands segment is engaged in licensing of trademarks.
B. Riley Financial, Inc. provides financial services and solutions to the capital raising and financial advisory needs of public and private firms. The company is headquartered in Los Angeles, California and currently employs 1,406 full-time employees. The company went IPO on 2009-08-03. The firm's operating segments include the Capital Markets segment, which provides investment banking, securities lending, and trading services to corporate and institutional clients. The Wealth Management segment provides wealth management and tax services to corporate, institutional and high net worth clients. The Auction and Liquidation segment provides auction and liquidation services to help clients dispose of assets that include multi-location retail inventory, intellectual property and real property. The Financial Consulting segment provides bankruptcy, financial advisory, forensic accounting, and appraisal services. The Principal Investments - United Online and magicJack segment provides consumer Internet access and related subscription services from United Online and cloud communication services primarily through the magicJack devices. The Brands segment is engaged in licensing of trademarks.
Preliminary Results: B. Riley expects Q4 net income available to common shareholders of $48–68 million, including a large gain from discontinued operations.
Strategic Asset Sales: The company sold a majority stake in the Great American Group, completed other asset monetizations, and signed a deal to sell part of its wealth management business.
Debt Reduction: Cash proceeds from transactions and asset sales were used to pay down debt, reducing net debt by $221 million from Q3.
Refocused Core: B. Riley is now centering on its middle market securities, wealth management, and advisory businesses after divesting noncore assets.
Take-Private Proposal Withdrawn: Bryant Riley withdrew his proposal to take the company private, citing improved prospects for shareholders and debt structure considerations.
Balance Sheet Actions: The company established a new credit facility with Oaktree and fully redeemed its February 2025 senior notes.
