Welcome to our dedicated page for B. Riley Financial news (Ticker: RILY), a resource for investors and traders seeking the latest updates and insights on B. Riley Financial stock.
B. Riley Financial, Inc. (NASDAQ: RILY) provides integrated financial solutions across investment banking, wealth management, and corporate advisory services. This dedicated news hub aggregates all essential updates about the company's operations, strategic initiatives, and market position.
Investors and analysts will find timely information on earnings announcements, mergers & acquisitions, leadership changes, and strategic partnerships. The curated collection includes press releases, regulatory filings, and third-party analysis to support informed decision-making.
Key coverage areas include capital market activities, restructuring developments, wealth management expansions, and financial consulting projects. Regular updates ensure stakeholders maintain current awareness of RILY's cross-platform initiatives in North American and European markets.
Bookmark this page for convenient access to verified RILY updates. Combine real-time alerts with historical context to track the company's evolving financial strategies and industry impact.
B. Riley Principal 150 Merger Corp. (BRPM) has announced the effectiveness of its Form S-4 registration statement by the SEC for its proposed business combination with FaZe Clan Inc. The merger aims to solidify FaZe Clan's position in the esports and creator economy. A Special Meeting for BRPM stockholders will be held on July 15, 2022, for voting on the merger. Upon completion, the company will rebrand as FaZe Holdings Inc. and trade on NASDAQ under the ticker 'FAZE.'
B. Riley Principal 150 Merger Corp. (NASDAQ: BRPM) announced the record date of May 26, 2022, for a special meeting of stockholders to vote on its proposed merger with FaZe Clan, a prominent esports and gaming lifestyle company. The business combination is anticipated to finalize by July 2022, pending stockholder and regulatory approvals. Following the merger, BRPM will be renamed FaZe Holdings Inc., with new ticker symbols 'FAZE' and 'FAZEW' for its shares and warrants, respectively. A proxy statement/prospectus will be provided to stockholders once effective.
FaZe Clan has appointed Zach Katz as its new President and Chief Operating Officer, effective immediately. Katz brings over 20 years of experience in the music and talent industries, aiming to enhance FaZe's operational efficiency and global brand expansion. He will report directly to CEO Lee Trink and work on increasing revenue through innovative verticals. This leadership change occurs as FaZe prepares for its merger with B. Riley Principal 150 Merger Corp. (NASDAQ: BRPM), with the transaction expected to close by July 2022.
B. Riley Financial (NASDAQ: RILY) reported a net loss of $12.1 million or ($0.43) diluted EPS for Q1 2022, a significant decline from a net income of $252.9 million a year prior. Total revenues dropped 66% to $205.6 million, with operating revenues decreasing by 18% to $274 million. The company declared a quarterly dividend of $1.00 per common share, payable on May 20. Despite challenges in the underwriting business, the firm anticipates growth from M&A activities and diversification into Telecom acquisitions, enhancing its revenue mix and cash flow.
B. Riley Securities, a subsidiary of B. Riley Financial (NASDAQ: RILY), has appointed Ji Pak and Mary Jo Collins as Managing Directors in its fixed income division. Ji Pak, who has nearly 15 years of experience in Hybrid/Preferred trading, aims to enhance B. Riley's capabilities in this space. Mary Jo Collins brings a strong background in fixed income trading and product sales. The firm is strategically expanding its offerings in the financial services industry, reinforcing its presence in the fixed income market with veteran leadership and a focus on client service.
B. Riley Financial (NASDAQ: RILY) has announced an investor call scheduled for Thursday, April 28, 2022, at 4:30 p.m. ET. The call will discuss the company’s first-quarter 2022 results following an earnings release expected shortly after market close on the same day. Co-CEOs Bryant Riley and Tom Kelleher, along with CFO Phillip Ahn, will lead the call and a subsequent Q&A session. Investors can access the live broadcast and archived recordings via the company’s investor relations website.
On April 12, 2022, FaZe Clan announced the addition of Donald De La Haye, known as "FaZe Deestroying," to their talent roster. Deestroying, a former college football player with over 10 million social media followers, transitioned to content creation after leaving college football. His dynamic sports content and vlogs have resonated with a dedicated fanbase. As an advocate for athlete compensation, he played a pivotal role in changing NCAA rules around name, image, and likeness (NIL). FaZe Clan aims to leverage his influence to expand their content offerings.
B. Riley Financial, Inc. (NASDAQ: RILY) has declared cash dividends for its Preferred Stock. The 6.875% Series A Preferred Stock will have a cash dividend of $0.42968750 per depositary share, while the 7.375% Series B Preferred Stock will offer $0.4609375 per depositary share. These dividends are payable on or about April 29, 2022, to shareholders of record by April 19, 2022. Each depositary share represents a fractional interest in a share of the respective Preferred Stock with a liquidation preference of $25.00.
