BRC Group Holdings, Inc. Stock Price, News & Analysis

B. Riley Financial reported record financial results for Q4 and FY 2020, with total revenues of $410.2 million for Q4, up from $165.2 million in Q4 2019, and $902.7 million for FY 2020, compared to $652.1 million in FY 2019. Net income for Q4 surged to $170.1 million, or $6.55 per share, versus $16.9 million, or $0.59 per share a year earlier. The company declared an increase in its regular dividend to $0.50 and a special dividend of $3.00, citing strong earnings potential. Investment banking activities and SPAC transactions significantly contributed to Q4 profitability.

B. Riley Financial (RILY) has successfully completed its merger with National Holdings Corporation (NHLD), transforming National into a wholly-owned subsidiary of B. Riley. This strategic merger adds nearly 700 registered representatives and $20 billion in assets to B. Riley’s platform, which now features over 900 representatives managing a total of $30 billion in assets. The integration aims to enhance B. Riley Wealth Management's competitive advantage by providing clients with a broader suite of investment solutions and improved service capabilities.

B. Riley Financial (NASDAQ: RILY) has successfully completed its cash tender offer for National Holdings Corporation (NASDAQ: NHLD) shares, acquiring 5,364,675 shares for approximately $17.4 million, representing about 39% of National's outstanding shares. The offer expired on February 24, 2021, and will lead to National becoming a wholly owned subsidiary of B. Riley, with each outstanding share converting into $3.25 in cash. The merger is expected to finalize soon, and National shares will subsequently be delisted from Nasdaq.

B. Riley Principal 150 Merger Corp. closed its initial public offering (IPO) on February 23, 2021, raising gross proceeds of $172.5 million. The offering consisted of 17,250,000 units, priced at $10.00 per unit, with trading beginning under the ticker symbol BRPMU. Each unit includes one share of Class A common stock and one-third redeemable warrant. The company plans to use the proceeds for potential business combinations, focusing on firms with an enterprise value of $300 million to $1 billion. B. Riley Securities, Inc. was the sole book-running manager.

On February 23, 2021, B. Riley Financial (NASDAQ: RILY) announced the launch of its new Compliance, Risk and Resilience practice within B. Riley Advisory Services. Led by seasoned experts Scott Corzine and Duane Lohn, this initiative aims to enhance clients' capabilities in risk management, cybersecurity, and crisis preparedness. The practice will cater to both public and private sector clients, providing crucial support to navigate operational resiliency and regulatory compliance.

B. Riley Principal 150 Merger Corp. announced the pricing of its initial public offering (IPO) of 15 million units at $10.00 each, set to trade on Nasdaq under the symbol BRPMU starting February 19, 2021. Each unit includes one share of Class A common stock and one-third of a redeemable warrant, with the warrants exercisable at $11.50 per share. The IPO aims to raise capital for business combinations. The offering is expected to close on February 23, 2021, and B. Riley Securities, Inc. serves as the sole book-running manager.

B. Riley Financial (NASDAQ: RILY) will hold a conference call on February 25, 2021, at 4:30 p.m. ET to discuss its fourth-quarter and full-year results for 2020. The financial results will be released shortly after market close, prior to the call. Co-CEOs Bryant Riley and Tom Kelleher, along with CFO Phillip Ahn, will host the call, which includes a question and answer session. Investors can access the live broadcast and recording through the investor relations website.

B. Riley Financial (NASDAQ: RILY) announced a cash tender offer to purchase outstanding shares of National Holdings Corporation (NASDAQ: NHLD) for $3.25 per share. The offer commences on January 27, 2021 and is set to expire at midnight on February 24, 2021, unless extended. National's Board of Directors unanimously recommends shareholders accept the offer. The completion of the tender offer is contingent upon a majority of shares being validly tendered. Following this, a merger is expected to occur, making National a wholly owned subsidiary of B. Riley Financial.

B. Riley Advisory Services has been awarded the title of Middle Market Turnaround Consulting Firm of the Year at the 12th Annual Turnaround Atlas Awards, recognizing its leadership in restructuring. The firm also achieved accolades for its roles in significant bankruptcy matters, including the Power & Utilities Restructuring of the Year for Agera Energy’s Chapter 11 process and the Special Situation M&A Deal of the Year for the Aceto Pharmaceuticals case. Co-CEO Ian Ratner emphasized the trust clients place in their expertise to navigate complex strategic challenges.