Company: RILYN
Filing Date: 2025-02-21
Form Type: 10-Q
Source: 0001628280-25-007082
Chunk: 94

Company: B. Riley Financial, Inc.
Filing Date: 2025-02-21
Form: 10-Q
Item: Part I, Item 1
Chunk 94
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urchased 1,452,831 shares of its common stock for $53,688, which represents an average price of $36.95 per common share. The shares repurchased under the program are retired. In November 2023, the share repurchase program was reauthorized by the Board of Directors for share repurchases up to $50,000 of the Company's outstanding common shares and the reauthorized program expired in October 2024. Amounts purchased prior to November 2023 relate to the previously authorized share repurchase program. As of September 30, 2024 and December 31, 2023, $34,206 remain available for common share repurchases under the share repurchase program.On July 28, 2023, the Company issued 2,090,909 shares of common stock through a public offering at a price of $55.00 per share for net proceeds of $114,507 after underwriting fees and costs.On October 28, 2019, the Company issued 200,000 warrants to purchase common stock of the Company (the “BR Brands Warrants”) in connection with the acquisition of a majority ownership interest in BR Brand Holdings LLC. The BR 

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Brands Warrants entitle the holders of the warrants to acquire shares of the Company’s common stock from the Company at an exercise price of $26.24 per share. One-third of the BR Brands Warrants immediately vested and became exercisable upon issuance, and the remaining two-thirds of warrants vested and became exercisable on the second anniversary of the closing, upon the BR Brands’ satisfaction of specified financial performance targets. The BR Brands warrants expire in February 2025. In April 2024, 200,000 shares of the Company's common stock were issued in connection with the exercise of warrants for cash in the amount of $653. As of September 30, 2024 and December 31, 2023, zero and 200,000 BR Brands warrants were outstanding, respectively. (d) Preferred StockDuring the nine months ended September 30, 2024 and 2023, the Company issued zero depository shares of the Series A Preferred Stock. There were 2,834 shares issued and outstanding as of September 30, 2024 and December 31, 2023. Total liquidation preference for the Series A Preferred Stock as of September 30, 2024 and December 31, 2023 was $70,854. Dividends on the Series