Company: RILYN
Filing Date: 2025-01-10
Form Type: 8-K
Source: 0001213900-25-002319
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Company: B. Riley Financial, Inc.
Filing Date: 2025-01-10
Form: 8-K
Item: Item 1.01
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Item 1.01

Entry into a Material Definitive Agreement

On January 6, 2025 (the “ Closing Date”),
certain indirect wholly owned subsidiaries of B. Riley Financial, Inc., (“ the Company”): BRPI Acquisition Co LLC (“ BRPAC”);
United Online, Inc. (“ United Online”); YMAX Corporation (“ YMax”); and Lingo Management, LLC (“ Lingo”;
and together with BRPAC, United Online, and YMax, the “ Borrowers”), entered into an amended and restated credit agreement
(the “ Telecom Credit Agreement”) with the Banc of California, in the capacity as agent (the “Agent”)
and lender and with the other lenders party thereto from time to time. Certain of the Borrowers’ U. S. subsidiaries are guarantors
of all obligations under the Telecom Credit Agreement and are parties to the Telecom Credit Agreement in such capacity (collectively,
the “ Secured Guarantors”; and together with the Borrowers, the “ Credit Parties”). In addition,
the Company and B. Riley Principal Investments, LLC, the parent corporation of BRPAC and an indirect subsidiary of the Company (“ BRPI”),
are guarantors of the obligations under the Telecom Credit Agreement pursuant to standalone guaranty agreements pursuant to which the
outstanding membership interests of BRPAC are pledged as collateral. The Telecom Credit Agreement amends and restates (i) that certain
credit agreement, dated as of December 19, 2018, by and among BRPAC, United Online, YMax, the secured guarantors party thereto, the lenders
party thereto, and Banc of California as administrative agent, as amended from time to time and (ii) that certain credit agreement, dated
as of August 16, 2022, by and among Lingo, the secured guarantors party thereto, the lenders party thereto, and Banc of California as
administrative agent, as amended from time to time (collectively, the “ Original Credit Agreements”).

The obligations under the Telecom Credit Agreement
are secured by first-priority liens on, and first priority security interest in, substantially all of the assets of the Credit Parties,
including a pledge of (a) 100% of the equity interests of the Credit Parties; (b) 65% of the equity interests in United Online
Software Development (India) Private Limited, a private limited company organized under the laws of