Company: RILYN
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001628280-25-001398
Chunk: 399

Company: B. Riley Financial, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 8
Chunk 399
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7 million, and the Company sold the entire position in the first quarter of 2024 and recorded a loss of $(3.5) million. The sale was executed to raise additional capital to fund operating activities.

The fair value of Double Down Interactive Co., Ltd common stock held as of June 30, 2024 and December 31, 2023 was $53.5 million and $30.4 million, respectively. The change in fair value for the six months ended June 30, 2024 is primarily related to an increase in the public trading price during the period.

The fair value of the investment in Freedom VCM Holdings, LLC held as of June 30, 2024 and December 31, 2023 was $63.7 million and $287.0 million, respectively. During the six months ended June 30, 2024, fair value adjustments were recorded in the amount of $(223.3) million primarily due to increases in net debt, declines in Freedom VCM Holdings, LLC’s investment in Conn’s, Inc. common stock and impact of Conn's bankruptcy filing on July 23, 2024, and a decrease in the operational performance of Freedom VCM Holdings, LLC’s various business segments.

Subsequent to June 30, 2024, Freedom VCM filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code on November 3, 2024 which impacts the future fair value of the investment in Freedom VCM. The fair value of the investment in Freedom VCM was reduced to zero at September 30, 2024 and a fair value adjustment of approximately $(63.7) million was recorded in the quarter ended September 30, 2024.

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Realized and Unrealized Gains (Losses)Three Months EndedJune 30,Six Months EndedJune 30,2024202320242023Other income (Expense) - Realized & Unrealized Gains (Losses)Public Equity Securities:Babcock & Wilcox Enterprises, Inc. - common stock$3,799 $(560)$(1,075)$3,864 Babcock & Wilcox Enterprises, Inc. - preferred stock(429)(336)(153)2,769 Alta Equipment Group, Inc. - common stock— 7,370 (3,537)20,616 Double Down Interactive Co., Ltd - common stock7,691 6,044 21,839 4,258