B. Riley Financial Set to Join S&P SmallCap 600

Rhea-AI Summary

B. Riley Financial (RILY) will join the S&P SmallCap 600 index effective April 15, 2021. This comes as The Michaels Companies (MIK) is set to be acquired by Apollo Global Management, leading to its removal from the index. The changes will take effect prior to the market opening on the specified date. This realignment reflects ongoing adjustments in the marketplace and could present new investment opportunities for shareholders of B. Riley Financial.

Positive

• Addition of B. Riley Financial to the S&P SmallCap 600 may enhance visibility and market perception.
• Potential for increased investment interest in B. Riley Financial as part of a major index.

Negative

• The Michaels Companies' removal may indicate market volatility or investor concerns regarding the acquisition.

NEW YORK, April 12, 2021 /PRNewswire/ -- B. Riley Financial Inc. (NASD: RILY) will replace The Michaels Companies Inc. (NASD: MIK) in the S&P SmallCap 600 effective prior to the opening of trading on Thursday, April 15. Apollo Global Management is acquiring The Michaels Companies in a deal expected to be completed soon pending final conditions.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date	Index Name	Action	Company Name	Ticker	GICS Sector
April 15, 2021	S&P SmallCap 600	Addition	B. Riley Financial	RILY	Financials
	S&P SmallCap 600	Deletion	The Michaels Cos	MIK	Consumer Discretionary

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View original content:http://www.prnewswire.com/news-releases/b-riley-financial-set-to-join-sp-smallcap-600-301267128.html

SOURCE S&P Dow Jones Indices

FAQ

When does B. Riley Financial join the S&P SmallCap 600?

B. Riley Financial will join the S&P SmallCap 600 on April 15, 2021.

What is happening to The Michaels Companies in relation to the S&P SmallCap 600?

The Michaels Companies will be removed from the S&P SmallCap 600 due to its acquisition by Apollo Global Management.

How will the addition of B. Riley Financial affect its stock performance?

Joining the S&P SmallCap 600 may improve B. Riley Financial's visibility and attract more investors.

What is the ticker symbol for B. Riley Financial?

The ticker symbol for B. Riley Financial is RILY.

What will happen to the ticker symbol MIK?

The ticker symbol MIK will be removed from the S&P SmallCap 600 following its acquisition.

Who is acquiring The Michaels Companies?

The Michaels Companies is being acquired by Apollo Global Management.

What is S&P Global's role in this press release?

S&P Global oversees the S&P Dow Jones Indices, which is making the changes to the index.