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LOS ANGELES - B. Riley Financial Inc. (NASDAQ:RILY), a diversified financial services firm currently trading at $3.01 per share, has received a notice from Nasdaq granting it an extension to meet the exchange’s filing requirements. The company was notified on June 4, 2025, of additional delinquency due to the late submission of its Annual Report for 2024 and its first-quarter report for 2025. According to InvestingPro analysis, the company’s stock has experienced significant pressure, falling over 87% in the past year.
Nasdaq’s Listing Rule 5250(c)(1) mandates that all listed companies file periodic financial reports with the Securities and Exchange Commission (SEC) on time. B. Riley’s recent notification does not immediately affect the listing of its securities on the exchange. The granted exception allows the company until September 29, 2025, to file all overdue reports and return to compliance. With a market capitalization of $94.24 million and a current ratio of 4.17, InvestingPro data shows the company maintains strong liquidity despite its filing challenges.
The delay in filing has been attributed to a range of significant events and transactions that occurred in 2024. B. Riley is actively working to complete and file the outstanding Annual and Quarterly Reports as soon as possible and anticipates resuming regular filing schedules by the fall of 2025. Despite recent challenges, the company has maintained dividend payments for 11 consecutive years, though InvestingPro data indicates a 50% reduction in dividend growth over the last twelve months.
B. Riley Financial offers a wide array of services including investment banking, institutional brokerage, private wealth and investment management, and corporate restructuring, among others. The company also engages in senior secured lending for asset-rich companies through its affiliates.
The press release also contains forward-looking statements, which are based on current management expectations and involve risks and uncertainties. B. Riley has cautioned that these statements should not be overly relied upon as they speak only as of the date of the press release. The company’s future results and performance may differ materially from historical outcomes due to various factors, some of which may be beyond its control.
This news is based on a press release statement from B. Riley Financial.
In other recent news, B. Riley Financial has been notified by Nasdaq of non-compliance with its listing rules due to a delay in filing its quarterly financial report for the quarter ended March 31, 2025. The company must submit a plan by June 2, 2025, to regain compliance. Additionally, B. Riley Financial has executed a private bond exchange agreement, reducing its debt by approximately $46 million. This agreement involves swapping $139 million in outstanding Senior Notes for $93 million in newly issued notes and includes the issuance of warrants for 372,000 common shares. In a separate transaction, the company further reduced its debt by $12 million through another bond exchange, showcasing its strategic efforts to manage its capital structure effectively. The financial advisory for these exchanges was provided by Moelis & Company LLC, with legal counsel from Sullivan & Cromwell LLP. Meanwhile, B. Riley Financial has appointed Scott Yessner as the new Chief Financial Officer, effective June 3, 2025, succeeding Phillip Ahn. Yessner brings extensive experience from his previous roles, notably improving EBITDA and company valuations. These developments are part of B. Riley Financial’s ongoing efforts to strengthen its financial health and leadership team.
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