B. Riley Financial will redeem $25 million of 6.75% senior notes

LOS ANGELES – B. Riley Financial, Inc. (Nasdaq: RILY), a diversified financial services company, announced that it will redeem $25 million aggregate principal amount of its 6.75% senior notes due 2024. May 31, 2024, and will include the total principal plus any accrued and unpaid interest up to, but not including, the redemption date.

The company has made it clear that interest on the notes will stop accruing after the redemption date. As a result, notes currently trading on Nasdaq under the ticker symbol “RILYO” will be delisted and removed from trading on the same day.

Note holders are advised to contact their bank or broker in which they hold a beneficial interest in the notes to learn more about redemption payments. B. Riley states that this press release does not serve as a notice of redemption or an offer to buy or sell any security.

B. Riley Financial operates a multifaceted financial services platform designed to meet the diverse strategic, operational and capital needs of clients at different stages of the business life cycle. The company's services include investment banking, institutional brokerage, private wealth and investment management, financial advisory and other areas, and it often makes speculative investments to benefit shareholders.

This announcement is based on a press release statement and is intended to provide important information to investors and the market. It is not a recommendation or an offer of securities.

Investment Professional Insights

B. Riley Financial (NASDAQ: RILY ) has been in the spotlight with its recent announcement of a redemption of senior notes, a move that reflects its strategic financial management. To provide a broader perspective on a company's financial health and market performance, here are some of InvestingPro's key metrics and insights.

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InvestingPro Data puts its market capitalization at $1.04 billion, showing that the company occupies a significant position in the financial sector. Additionally, B. Riley has shown strong returns over the last month, with a total price return of 53.09%. This performance is consistent with the company's historical pattern, which has demonstrated high returns over the past decade, demonstrating its long-term growth and stability.

Despite the challenging market environment, B.Riley has maintained dividend payments for 11 consecutive years, demonstrating its commitment to shareholder returns. The current dividend yield is an attractive 5.81%, a figure that may be particularly attractive to income-focused investors.

InvestingPro Tips emphasizes that although the stock's price volatility is generally high, the company's liquid assets exceed its short-term debt, indicating its strong liquidity position. This is a key factor for investors considering a company's ability to meet its direct financial obligations.

For those seeking further insight and advice on B. Riley Financial, InvestingPro has provided additional guidance, including a total of 10 InvestingPro Tips on the company's performance and prospects.Interested investors can use the coupon code PRONEWS24 Annual or bi-annual Pro and Pro+ subscriptions receive an additional 10% discount, giving them access to in-depth analysis and data to inform their investment decisions.

This article was generated with the support of artificial intelligence and reviewed by an editor. For more information, please see our terms and conditions.

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