Company: RILYN
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001464790-25-000023
Chunk: 156

Company: B. Riley Financial, Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 2
Chunk 156
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Fair Value Adjustments on LoansLoans Receivable, at Fair ValueThree Months EndedMarch 31,Industry or Type of LoanMarch 31, 2025December 31, 202420252024Related Party Loans:Vintage Capital Management, LLCRetail / consumer$2,334 $2,057 $276 $(17,238)Freedom VCM Receivables, Inc.Consumer receivable portfolio— 3,913 1,393 (1,681)Conn's, Inc.Retail / consumer15,000 38,826 (4,065)(1,254)W.S. Badcock CorporationConsumer receivable portfolio— 2,169 250 551 Great American Holdings, LLCProfessional Services27,898 — — — GA Joann Retail PartnershipProfessional Services14,184 — — — Other related party loansProfessional Services, Industrials, Oil & Gas1,900 4,937 — 497 Total related party61,316 51,902 (2,146)(19,125)Exela Technologies, Inc.Technology27,563 32,136 (2,677)213 Core Scientific, Inc.Technology— — — 8,473 Norlin EV LimitedReal Estate6,142 6,065 (227)28 Other loansVarious3,575 — (3,046)(1,790)Total$98,596 $90,103 $(8,096)$(12,201)

The fair value adjustments on loans receivable for the three months ended March 31, 2025 and 2024, were $(8.1) million and $(12.2) million, respectively. During the three months ended March 31, 2025 and 2024, fair value adjustments for loans receivable from related parties totaled $(2.1) million and $(19.1) million, respectively. During the three months ended March 31, 2025 and 2024, fair value adjustments for other loans receivable totaled $(6.0) million and $6.9 million, respectively.

The $4.1 million favorable variance in fair value adjustments related to loans was primarily driven by $17.5 million related to the loan to VCM, $3.1 million related to the loan to Freedom VCM, partially offset by unfavorable variances of $8.5 million related to the