Company: RILYN
Filing Date: 2025-02-21
Form Type: 10-Q
Source: 0001628280-25-007082
Chunk: 192

Company: B. Riley Financial, Inc.
Filing Date: 2025-02-21
Form: 10-Q
Item: Part I, Item 2
Chunk 192
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million. The sale was executed to raise additional capital to fund operating activities.

The fair value of our Double Down Interactive Co., Ltd common stock held as of September 30, 2024 and December 31, 2023 was $66.5 million and $30.4 million, respectively. The change in fair value for the nine months ended September 30, 2024 is primarily related to an increase in the public share price during the period.

The fair value of our investment in Freedom VCM Holdings, LLC held as of September 30, 2024 and December 31, 2023 was zero and $287.0 million, respectively. During the nine months ended September 30, 2024, we recorded fair value adjustments of $(221.0) 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 September 30, 2024, the investment in Freedom VCM Holdings, LLC was also impacted due to the filing of Freedom VCM’s voluntary petitions for relief under Chapter 11 of the Bankruptcy Code on November 3, 2024.

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Realized and Unrealized Gains (Losses)Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2024202320242023Other income (Expense) - Realized & Unrealized Gains (Losses)Public Equity Securities:Babcock & Wilcox Enterprises, Inc. - common stock$7,005 $(33,537)$5,930 $(29,672)Babcock & Wilcox Enterprises, Inc. - preferred stock2,495 (148)2,342 2,621 Alta Equipment Group, Inc. - common stock— (17,873)(3,537)2,743 Double Down Interactive Co., Ltd - common stock13,113 (4,220)34,952 38 Synchronoss Technologies, Inc. - common stock6,445 (530)9,940 (530)Other public equities204 (3,244)(2,328)(16,910)Subtotal29,262 (59,552)47,299 (41,710)Private Equity Securities:Freedom VCM Holdings, LLC(49