Welcome to our dedicated page for BRC Group Holdings news (Ticker: RILY), a resource for investors and traders seeking the latest updates and insights on BRC Group Holdings stock.
BRC Group Holdings, Inc. (Nasdaq: RILY), formerly B. Riley Financial, Inc., regularly issues news and updates that reflect its role as a diversified holding company with financial services, telecom, retail, and investment activities. Its press releases cover developments across segments such as Capital Markets, Wealth Management, Communications, and Consumer Products, as well as group-level corporate actions.
News about BRC often highlights quarterly and annual financial results, including net income, revenues, segment performance, and non-GAAP measures such as Adjusted EBITDA, Operating Adjusted EBITDA, Investment Adjusted EBITDA, Operating Revenues, Investment Gains (Losses), Total Investments, and Net Debt. These updates may include commentary from management on segment trends, debt reduction, bond exchanges, and balance sheet initiatives.
Investors following RILY news can also expect announcements related to capital markets and investment banking activity at B. Riley Securities, such as equity and debt capital raises, carve-out transactions, and business updates on its investment banking, institutional brokerage, and research operations. Additional releases discuss wealth management developments at B. Riley Wealth, as well as performance of the Communications and Consumer Products segments.
Another recurring theme in BRC’s news flow is regulatory and listing matters, including communications about SEC filing timelines, Nasdaq notifications, and steps taken to regain or maintain timely reporting compliance. Corporate governance items, such as the appointment of auditors, proxy statements for the annual meeting, and executive compensation arrangements, also appear in company filings and related announcements.
For readers tracking RILY, this news page aggregates these company-issued updates, providing a single place to review recent earnings releases, segment highlights, capital structure developments, and key regulatory disclosures as reported by BRC Group Holdings, Inc.
B. Riley Financial (NASDAQ: RILY) announced the appointment of Martin Bernstein as Head of Private Investments. Bernstein will oversee investment sourcing, underwriting, and management of private company investments. The firm, with about $1.3 billion in cash and investments as of December 31, 2020, aims to enhance its investment strategy by expanding beyond public companies. Bernstein brings extensive experience in credit and equity markets, having worked at Anchorage Capital Group and other notable firms. His role will strengthen B. Riley's relationships with syndication partners.
B. Riley Financial (NASDAQ: RILY) announced the redemption of all 7.50% Senior Notes due 2027, totaling $128,155,700, effective March 31, 2021. The redemption price includes 100% of the principal amount plus any accrued interest until the Redemption Date. After this date, these Notes will be delisted from NASDAQ under the symbol RILYZ and interest will cease to accrue. Investors are advised to contact their brokers for redemption details. This announcement is informational and does not constitute an offer to buy or sell securities.
272 Capital, LP and B. Riley Financial, representing over 10% of Tile Shop Holdings' shares, have condemned the company's Board for a lack of shareholder engagement and failure to up-list to a major exchange. Despite forming a special committee to explore a Nasdaq listing, no action has been taken. Shareholders express frustration over the Board's decisions and are planning to propose an independent board slate at the upcoming annual meeting to ensure accountability and drive value creation for all shareholders.
B. Riley Financial (RILY) reported record financial results for Q4 and FY 2020, with total revenues of $410.2 million and $902.7 million, respectively. The company's net income surged to $170.1 million ($6.55 EPS) in Q4, compared to $16.9 million ($0.59 EPS) in the prior year. Full year net income reached $200.4 million ($7.56 EPS). Operating revenues also increased significantly, demonstrating robust growth in investment banking and brokerage services. The company declared a total dividend of $3.50 per share, including a special $3.00 dividend, reflecting strong cash flow and a commitment to shareholders.
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.
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