Company: RILYN
Filing Date: 2025-05-01
Form Type: CORRESP
Source: 0001213900-25-038023
Chunk: 3

Company: B. Riley Financial, Inc.
Filing Date: 2025-05-01
Form: CORRESP
Chunk 3
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of the following:

| bebe sale transaction for equity method investments completed subsequent to September 30, 2024, on October 25, 2024: |     | Equity Method Investments |          |   |     | Six Brands Operating Business |         |   |     | Total |          |   |
|:---------------------------------------------------------------------------------------------------------------------|:----|:--------------------------|:---------|:--|:----|:------------------------------|:--------|:--|:----|:------|:---------|:--|
| Fair value adjustments on equity method BB Brand Holdings, LLC and BKST (a)                                          |     | $                         | (20,043  | ) |     |                               | n/a     |   |     | $     | (20,043  | ) |
| Secured financing transaction completed subsequent to September 30, 2024, on October 25, 2024:                       |     |                           |          |   |     |                               |         |   |     |       |          |   |
| Fair value adjustments on equity method investments for Hurley, Justice and S&S (b)                                  |     |                           | (93,191  | ) |     |                               | n/a     |   |     |       | (93,191  | ) |
| Expected loss on disposal of Six Brands operating business (c)                                                       |     |                           | n/a      |   |     |                               | (39,500 | ) |     |       | (39,500  | ) |
| Subtotal - Secured financing transaction completed subsequent to September 30, 2024, on October 25, 2024             |     | $                         | (93,191  | ) |     | $                             | (39,500 | ) |     | $     | (132,691 | ) |
| Total loss reported from Brands Transaction                                                                          |     | $                         | (113,234 | ) |     | $                             | (39,500 | ) |     | $     | (152,734 | ) |

| (a) | bebe stores, inc. owned two equity method investments that were accounted for under the fair value option,                             
 comprised of BB Brand Holdings, LLC and BKST Brand Management, LLC. During the quarter ended September 30, 2024, the Company recorded  
 fair value adjustments that resulted in a $20 million loss that was reported in the income statement in discontinued operations Note 4 
 – Dis