B. Riley Financial Announces Full Redemption of 7.25% Senior Notes due 2027
B. Riley Financial announced the full redemption of its 7.25% Senior Notes due 2027, totaling $122,793,450. The redemption will occur on July 26, 2021, at 100% of the principal amount along with accrued interest until the redemption date. Following the redemption, the Notes will be delisted from NASDAQ (ticker: 'RILYG') and will cease trading. Investors are advised to contact their brokers for details on the redemption payment. The company continues to provide financial solutions through its various subsidiaries.
- Successful redemption of 7.25% Senior Notes indicates effective capital management.
- The total principal amount of Notes redeemed is substantial at $122,793,450.
- Delisting of the Notes from NASDAQ could impact liquidity for current noteholders.
LOS ANGELES, June 24, 2021 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the "Company") today announced it will redeem all of the issued and outstanding
The redemption price is equal to
Interest on the Notes will cease to accrue on and after the Redemption Date. The Notes, which are listed on NASDAQ under the ticker symbol "RILYG," will be delisted and cease trading on the Redemption Date.
Investors 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.
This 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.
About B. Riley Financial
B. Riley Financial provides collaborative solutions tailored to fit the capital raising and business advisory needs of its clients and partners. B. Riley operates through several subsidiaries that offer a diverse range of complementary end-to-end capabilities spanning investment banking and institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction and liquidation services. For more information, please visit www.brileyfin.com.
Forward-Looking Statements
Statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of the date of this press release. Such forward looking statements include, but are not limited to, statements regarding the terms and conditions and timing of redemption of these Notes. Because these forward-looking statements involve known and unknown risks and uncertainties, there are important factors that could cause actual results, events or developments to differ materially from those expressed or implied by these forward-looking statements. Factors that could cause actual results to differ include (without limitation) the Company's financial performance; and those risks described from time to time in B. Riley Financial's periodic filings with the SEC, including, without limitation, the risks described in B. Riley Financial's Annual Report on Form 10-K for the year ended December 31, 2020 under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Additional information is also set forth in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. All information is current as of the date this press release is issued, and B. Riley Financial undertakes no duty to update this information.
Contacts | |
Investors | Media |
Mike Frank | Jo Anne McCusker |
(212) 409-2424 | (646) 885-5425 |
View original content to download multimedia:http://www.prnewswire.com/news-releases/b-riley-financial-announces-full-redemption-of-7-25-senior-notes-due-2027--301319731.html
SOURCE B. Riley Financial
FAQ
What is the redemption date for B. Riley Financial's senior notes?
How much is B. Riley Financial redeeming in senior notes?
What happens to interest on the senior notes after the redemption date?
Will the senior notes continue to trade after redemption?
