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.
Overview
B. Riley Financial, Inc. (symbol: RILY) is a diversified financial services firm offering a wide range of solutions including investment banking, capital advisory, and financial consulting services. The firm operates through several wholly-owned subsidiaries and affiliated entities to deliver comprehensive support in areas such as wealth management, corporate restructuring, risk and compliance, forensic accounting, litigation support, as well as asset disposition and valuation. With its robust, cross-platform expertise, B. Riley Financial provides tailored, full-service solutions to public and private companies, institutional clients, and high-net-worth individuals across the United States, Canada, and Europe.
Core Business and Services
B. Riley Financial leverages its integrated platform to serve clients at every stage of the business life cycle. The company’s operations are segmented into key areas that include:
- Capital Markets: Involves investment banking, underwriting, and strategic advisory services that support capital raising and restructuring efforts.
- Wealth Management: Offers tailored investment management solutions and financial planning services designed for institutional investors and high-net-worth individuals.
- Financial Consulting: Provides forensic accounting, litigation support, risk management, and valuation and appraisal services.
- Auction and Liquidation: Manages asset dispositions, including auction and liquidation services with comprehensive valuation analyses.
- Communications and Consumer Products: Extends into areas such as internet access and subscription-based services, complementing its core offerings.
Business Model and Market Position
The company’s robust business model is built on leveraging the diverse expertise of its subsidiaries to offer end-to-end financial solutions. B. Riley Financial generates revenue through a mix of advisory fees, transactional services, underwriting activities, and proprietary investments. Operating across multiple segments, the firm not only meets traditional capital raising needs but also provides specialized advisory in distressed asset situations, complex restructurings, and forensic investigations. This diversified approach enables the company to deliver uncorrelated free cash flow and maintain a resilient balance sheet, even amid market fluctuations.
Expertise and Industry Approach
B. Riley Financial is known for its collaborative, client-focused approach that benefits from decades of industry-specific experience and technical proficiency. The firm’s strategic differentiation comes from its ability to integrate services across investment banking, wealth management, and advisory platforms, ensuring that clients receive comprehensive financial solutions. The emphasis on due diligence, risk and compliance, and forensic accounting underlines the company’s commitment to robust analytical practices and transparency, which are critical in complex financial transactions.
Subsidiaries and Operational Structure
The company operates through a portfolio of subsidiaries that specialize in different areas of the financial services landscape. This structure includes teams focused on capital management, independent broker-dealer operations, and niche advisory services that address asset monetization, restructuring, and valuation. Such a configuration allows for a tailored, flexible approach to meet the varied strategic, operational, and financial needs of its clients. Through its subsidiary B. Riley Securities, for instance, the company has cemented its reputation in the middle market, offering specialized services in equity research and capital structure advisory.
Competitive Landscape and Value Proposition
In a competitive financial services market, B. Riley Financial distinguishes itself by blending traditional investment banking with innovative advisory solutions. The firm’s integrated service model is backed by extensive experience, which enables it to manage both routine and complex financial situations. This capability is particularly beneficial to middle-market companies seeking diversified support without the need for multiple service providers. By maintaining a focus on core financial operations while opportunistically investing in non-traditional assets, B. Riley Financial offers a nuanced, resilient platform that adapts to evolving market dynamics.
Client Focus and Service Excellence
The firm serves a broad spectrum of clients—from rapidly growing middle-market companies and established corporations to high-net-worth individuals seeking capital management and estate planning solutions. Its long history in the industry is a testament to its discipline in managing client relationships, mitigating risk, and executing complex transactions in environments that demand both agility and precision. With a transparent and unbiased approach, B. Riley Financial reinforces investor confidence and demonstrates its commitment to high standards of corporate governance and fiduciary responsibility.
Conclusion
B. Riley Financial, Inc. remains a significant player in the financial services sector by consistently providing integrated, cross-platform financial solutions tailored to diverse client needs. Its methodical approach to capital markets, wealth management, and comprehensive advisory services makes it a reliable partner for entities seeking both stability and extensive industry know-how. The company’s endurance in addressing capital, operational, and strategic challenges underscores its enduring value proposition in an increasingly complex financial environment.
B. Riley Financial, Inc. (NASDAQ: RILY) has successfully closed an underwritten public offering of $200 million in 6.00% senior notes due 2028. The offering generated net proceeds of approximately $193.7 million after costs and will fund the redemption of existing 7.50% senior notes and support general corporate activities. The notes received a BBB+ investment-grade rating from Egan-Jones Ratings Company and will trade under the symbol RILYT. The company aims to use excess proceeds for acquisitions and debt repayment.
B. Riley Financial (NASDAQ: RILY) announced a $200 million underwritten public offering of 6.00% senior notes due 2028, priced on January 20, 2021. The offering includes a 30-day option for underwriters to purchase an additional $30 million. The expected closing date is January 25, 2021. Proceeds over $50 million will be used to redeem existing 7.50% senior notes due 2027 and for general corporate purposes. The notes received a BBB+ investment grade rating from Egan-Jones and are expected to begin trading under the symbol "RILYT".
FusionIQ has partnered with Ultimus Fund Solutions to introduce a digital investment platform for nearly 200 investment management firms. This solution combines traditional advisory services with a modern digital experience, allowing clients access to mutual funds on a self-directed basis, including fractional shares and robo-advisor models. The partnership aims to enhance distribution channels for advisors and improve client service offerings. Ultimus leads in offering a digital investment experience, supporting the growing demand for technology-driven wealth management solutions.
B. Riley Financial (NASDAQ: RILY) announced a public offering of $100 million in senior notes due 2028. The offering is subject to market conditions, with underwriters granted a 30-day option for additional notes. Rated BBB+ by Egan-Jones Ratings, the proceeds will primarily redeem existing 7.50% Senior Notes due 2027 and for general corporate purposes including acquisitions and working capital. The notes will be offered under an SEC shelf registration statement, and copies of the related prospectus can be obtained via the SEC's website.
B. Riley Financial (NASDAQ: RILY) has successfully completed a public offering of 1,413,045 shares at $46.00 each, raising approximately $65 million in gross proceeds. After deductions, the net proceeds stand at about $61.4 million, which will be allocated for general corporate purposes, including acquisitions, capital expenditures, and working capital. Notably, some officers and directors participated, purchasing 149,670 shares in the offering. The offering utilized the Company's effective shelf registration statement filed with the SEC.
B. Riley Financial (NASDAQ: RILY) has announced the pricing of an underwritten public offering of 1,228,735 shares of common stock at $46.00 per share. The Offering will generate approximately $56.5 million in gross proceeds before expenses and discounts. Closing is expected on January 15, 2021. The proceeds are intended for general corporate purposes, including funding future acquisitions and making capital expenditures. Additionally, certain company officers and directors have agreed to purchase 149,670 shares as part of this offering.
B. Riley Financial (NASDAQ: RILY) announced a public offering of 870,000 common shares, with an option for underwriters to purchase additional shares. The offering aims to raise funds for general corporate purposes, including acquisitions and capital expenditures. The shares will be offered under a shelf registration statement effective since February 2020. The preliminary prospectus is available on the SEC's website. Participation interest from company insiders is noted, which may indicate confidence in the offering.
B. Riley Financial (RILY) announced preliminary estimates for Q4 and full year 2020, showcasing strong financial performance. Q4 net income is projected between $162M and $167M, translating to diluted earnings per share of $6.18 to $6.38. For full year 2020, net income is estimated at $196M to $201M, with earnings per share ranging from $7.20 to $7.39. Total adjusted EBITDA for Q4 is expected to be $253M to $260M, while full year adjusted EBITDA ranges from $399M to $407M. The company anticipates cash and investments to be approximately $1.3B by year-end.
B. Riley Financial has announced a definitive agreement to acquire National Holdings Corporation in a cash tender offer priced at $3.25 per share. B. Riley currently holds approximately 45% of National's shares. This merger aims to enhance both companies' investment banking and wealth management services and is expected to close in the first quarter of 2021, pending regulatory approvals. National's assets under management amount to $18.9 billion, while B. Riley's total is over $10 billion. The deal is unanimously approved by both companies' boards.
B. Riley Financial (NASDAQ: RILY) has declared cash dividends for its preferred stock. The 6.875% Series A Cumulative Perpetual Preferred Stock (RILYP) will receive a dividend of $0.42968750 per depositary share, while the 7.375% Series B (RILYL) will receive $0.4609375 per depositary share. These dividends are payable on or about January 31, 2021, to shareholders on record as of January 21, 2021. Each depositary share has a liquidation preference of $25.00.
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