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 Financial (NASDAQ: RILY) announced a strategic investment in IQvestment Holdings, enhancing its fintech capabilities and expanding its business-to-business eCommerce platform. Chuck Hastings, CEO of B. Riley Wealth Management, and Jon Merriman, Chief Business Officer, will join IQvestment’s board and advisory board, respectively. The partnership aims to leverage B. Riley's experience and technology to improve wealth management services for retail clients. This investment positions B. Riley as a key player in the evolving digital investment landscape.
B. Riley Financial (NASDAQ: RILY) announced the launch of a new subsidiary, B. Riley Venture Capital, to invest in late-stage growth companies. Todd D. Sims, previously on the company's board, will lead this initiative. The venture capital arm aims to leverage B. Riley's strong balance sheet and syndication platform to identify and invest in promising firms poised for public markets. The company emphasizes enhancing shareholder value through strategic investments.
B. Riley Wealth Management has appointed Edward J. Grimpe as the new Regional Manager for the Southeast Region, focusing on expanding in South Florida and surrounding areas. Grimpe brings over 25 years of experience, having previously held key positions at Merrill Lynch and BB&T Scott & Stringfellow. His expertise in managing and recruiting will support B. Riley's growth strategy. Grimpe emphasizes B. Riley's collaborative culture and sophisticated services as pivotal for financial advisors seeking to better serve their clients.
B. Riley Financial (NASDAQ: RILY) announced a rebranding of its subsidiary companies to enhance consistency and client engagement. This reflects growth since its establishment in 1997 and follows a series of acquisitions since 2015, including FBR & Co. and GlassRatner. The rebranding aims to amplify the visibility of B. Riley’s diverse services, which range from financial consulting to investment banking. Co-CEOs Bryant Riley and Tom Kelleher emphasized that this initiative will improve service levels and operational efficiency for stakeholders.
B. Riley Financial, Inc. (NASDAQ:RILY) announced the commencement of store closing sales at 17 additional Sur La Table locations across the U.S. as part of a restructuring strategy initiated on August 28. This decision follows the identification of 56 stores slated for closure during the company's bankruptcy proceedings. Customers can expect discounts of up to 30% on merchandise. The liquidation sales are anticipated to last approximately five weeks or until stock is depleted, with final purchases being non-returnable. Sur La Table continues operations at over 55 locations under new ownership.
B. Riley Financial (NASDAQ: RILY) announced the pricing of its underwritten public offering of 1,300,000 depositary shares at $25.00 each, raising gross proceeds of $32.5 million. Each share represents a 1/1000th fractional interest in the Company's 7.375% Series B Cumulative Perpetual Preferred Stock, with dividends paid when declared at 7.375%. The offering is set to close around September 4, 2020, with an additional 195,000 shares available to underwriters for overallotments. Proceeds will support general corporate purposes, including acquisitions and debt repayment.
B. Riley Financial announced an underwritten public offering of depositary shares, each representing a 1/1000th fractional interest in its Series B Cumulative Perpetual Preferred Stock, with a liquidation preference of $25.00 per share. The offering will be subject to market conditions, and the company plans to use the net proceeds for general corporate purposes including acquisitions, debt repayment, and working capital. The offering is facilitated by B. Riley FBR, Incapital, and others, under an SEC shelf registration statement.
On August 12, 2020, Stein Mart filed for Chapter 11 reorganization, initiating going out of business sales across all 279 locations in the U.S. This process, overseen by a joint venture including B. Riley Financial, offers discounts of up to 30% off the lowest ticketed prices storewide. Customers can find a wide selection of discounted brand name fashions, home décor, and essentials. Additionally, gift cards and loyalty rewards will be accepted for a limited time while store fixtures will also be sold at reduced prices.
B. Riley Financial (RILY) reported strong second quarter 2020 results with consolidated revenues of $266.5 million, up from $164.7 million in Q2 2019. The net income reached $82.8 million, or $3.07 per diluted share. Investment gains surged to $114.5 million, reflecting market recovery from COVID-19 impacts. Operating revenues were $151.9 million, down slightly from the prior year, but adjusted EBITDA increased significantly to $148.3 million. A regular dividend increase to $0.30 per share, plus a special $0.05 dividend, was announced.
On July 28, 2020, B. Riley Financial's affiliate, Great American Group, announced the initiation of store closing sales at approximately 380 New York & Company locations following the bankruptcy of its parent company, RTW Retailwinds. Customers can access discounts of up to 60% on in-store merchandise. The liquidation sales are expected to last 8-10 weeks, allowing for the sale of all remaining products including store fixtures. B. Riley Financial specializes in diverse financial services, providing solutions in investment banking, corporate advisory, and liquidation services.
